Automatic transfer of ACE Market companies to Main Market a catalyst for local bourse, says Sedania

KUALA LUMPUR (July 28): Technology company Sedania Innovator Bhd has lauded measures under the government's newly launched Ekonomi Madani to revive the local equity market, including the automatic transfer of ACE Market-listed companies that meet certain criteria to the Main Market of Bursa Malaysia.

“We are excited about this new measure, which will be a catalyst to the local equity market, as more quality ACE Market listed counters can now join the ‘big boys’ on the Main Market,” said ACE Market-listed Sedania's founder and managing director Datuk Azrin Mohd Noor in a statement on Friday (July 28).

According to Azrin, it aims to transfer to the Main Market in the next two years to elevate its status and attract institutional investors, which are mostly limited to investing in Bursa's market for established companies.

“Sedania stands to benefit from the participation of institutional investors, which place importance on environmental, social and governance (ESG) investments by incorporating ESG mandates into their funds,” he added.

At Friday's close, Sedania was unchanged at 21.5 sen a share, giving it a market capitalisation of RM74.68 million.

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