MARKET DEVELOPMENT
BiotechCorp Expects Three Bionexus Companies To Be Listed Next Year
BiotechCorp Expects Three Bionexus Companies To Be Listed Next Year
20/08/2015 (Bernama) - Malaysian Biotechnology Corporation (BiotechCorp) expects three out of 261 bionexus status companies to be listed on Bursa Malaysia next year from six at present, its Chief Executive Officer, Datuk Mohd Nazlee Kamal said.
Bionexus status companies will receive an attractive package of incentives, including income tax exemption in the quest to spur the country's biotechnology sustainable development.
Mohd Nazlee said two of the companies were involved in the wellness industry while another was a bio-agriculture company.
"These companies are preparing for the initial public offering (IPO). However, they will only go for it next year as they are waiting for the market conditions to improve and get stronger," he said.
He said the IPO of one of the bionexus companies, BioAlpha Holdings Bhd was oversubscribed by 32.19 times at the initial offer price of 20 sen during its listing in April.
BiotechCorp hopes the three companies will replicate the IPO success and the agency will facilitate in the listing process and promote them among investors, he said at the close of the BioMalaysia and Asean Bioeconomy 2015 Exhibition and Conference here today.
On BiotechCorp's role in boosting regional bioeconomy, he said the Ministry of Science, Technology and Innovation's agency would work closely with Laos and Cambodia in promoting the industry.
He said as Laos was interested in broadening its knowledge on the wellness industry concept, while Cambodia was keen to convert biomass from the palm oil industry into bioenergy, Malaysia would assist them.
The three-day exhibition showcased the latest technologies, innovations and products from 70 companies from Singapore, India, Bahrain, the US, Germany, Kuwait, Iran, Thailand, and host Malaysia, with about 7,000 visitors expected by the end of the day.
Meanwhile, BioCareer, held in conjunction with the exhibition, attracted 358 visitors, while the BioKerjaya Portal received 124 job applications from biotechnology and life sciences graduates for the bio-based industry.
Bionexus status companies will receive an attractive package of incentives, including income tax exemption in the quest to spur the country's biotechnology sustainable development.
Mohd Nazlee said two of the companies were involved in the wellness industry while another was a bio-agriculture company.
"These companies are preparing for the initial public offering (IPO). However, they will only go for it next year as they are waiting for the market conditions to improve and get stronger," he said.
He said the IPO of one of the bionexus companies, BioAlpha Holdings Bhd was oversubscribed by 32.19 times at the initial offer price of 20 sen during its listing in April.
BiotechCorp hopes the three companies will replicate the IPO success and the agency will facilitate in the listing process and promote them among investors, he said at the close of the BioMalaysia and Asean Bioeconomy 2015 Exhibition and Conference here today.
On BiotechCorp's role in boosting regional bioeconomy, he said the Ministry of Science, Technology and Innovation's agency would work closely with Laos and Cambodia in promoting the industry.
He said as Laos was interested in broadening its knowledge on the wellness industry concept, while Cambodia was keen to convert biomass from the palm oil industry into bioenergy, Malaysia would assist them.
The three-day exhibition showcased the latest technologies, innovations and products from 70 companies from Singapore, India, Bahrain, the US, Germany, Kuwait, Iran, Thailand, and host Malaysia, with about 7,000 visitors expected by the end of the day.
Meanwhile, BioCareer, held in conjunction with the exhibition, attracted 358 visitors, while the BioKerjaya Portal received 124 job applications from biotechnology and life sciences graduates for the bio-based industry.