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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
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Neon Weighs $389 Million IPO in Singapore Amid Entertainment Expansion

 

Singapore-based immersive entertainment group Neon is considering a Singapore IPO that could raise up to S$500 million (US$389 million), according to sources familiar with the matter. The company, backed by Temasek Holdings’ 65 Equity Partners, has been in discussions with financial advisers, with the potential initial public offering (IPO) taking place as early as next year. The deal is expected to raise between S$400 million to S$500 million, though details remain subject to change.

Neon is known for producing immersive entertainment experiences based on popular franchises like Marvel’s Avengers, Jurassic Park, and The Hunger Games. The company also collaborates with the governments of Peru and Egypt to showcase historical exhibitions.

Neon previously listed in Singapore in 2005, raising S$5.3 million, before going private in 2019 in a S$318 million buyout. 65 Equity Partners invested S$150 million in Neon in October 2022, following a private funding round that raised S$235 million from various investors, including Pavilion Capital and Seatown Holdings International.

This move comes as Singapore’s IPO market has been relatively quiet, with only US$19.5 million raised so far this year. Other companies, such as SCI Ecommerce Pte Ltd, are also planning IPOs next year, with Nippon Telegraph & Telephone Corp reportedly considering a listing of a global data center real estate investment trust in Singapore.

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