KUALA LUMPUR, July 30 — Bursa Malaysia Bhd anticipates more initial public offerings (IPOs) in the second half of 2018 given the better market clarity, but the total value for the year would be lower than last year’s, said Chief Executive Officer Datuk Seri Tajuddin Atan.        

In 2017, the exchange saw 13 IPOs, valued at RM21 billion, while as at end-June 2018, there were 11 IPOs worth RM2 billion.       

Tajuddin, who was speaking at a media and analyst briefing in conjunction with the release of its 2018 first-half results here today, however declined to disclose the number of new listings expected for the rest of this year.       

He expressed confidence that foreign investors would return to the market in the next few months after digesting news on the various factors that impacted the market.

Asked if the exchange expected further fund outflow, Tajuddin replied he did not know.        

"We need to see the reactions in the market. At this point, the market is likely digesting the news and assessing what will be the impact.        

"I think that investments will likely be quite strong after there is more clarity on the policies and the economic direction,” he said.

Tajuddin said now that the general election was over, investors were ready to return to the market, gathering their momentum and thoughts.

"If you look at the price-to-book and price-earnings, you will probably see this as a bargain-hunting season,” he added. — Bernama