What is the LEAP Market?
It is a platform on Bursa Malaysia for smaller companies to raise funds from sophisticated (professional) investors. The proposals aim to make it more accessible and easier to use.
Easier entry for ECF issuers
Companies that have raised at least RM5 million through equity crowdfunding platforms within the past seven years can apply for LEAP Market listing through a simplified route
They can apply without an approved adviser, using ECF operators or VC/PE firms as listing agents instead
A simplified disclosure document replaces the more complex traditional submission
Retail investors can now participate
Currently only sophisticated investors can access the LEAP Market
Under the proposal, retail investors will be allowed in, with a cap of RM250,000 at any time
Individual issuer exposure is limited to RM100,000 in the primary market and RM100,000 per broker in the secondary market
Smoother path to ACE Market
Companies can move up to the ACE Market after at least two years on LEAP without needing to withdraw their listing or make an exit offer — a much cleaner transition than before
Adviser incentive
Advisers may receive up to 50% of their fees in shares, with a 2% individual cap and 5% aggregate cap, plus a six-month lock-up period
The bigger picture
Malaysia has around 8,500 mid-tier companies (MTCs) that could potentially tap the capital market. These proposals form part of the Capital Market Masterplan 2026–2030 and aim to build a clearer funding path from private fundraising all the way to public listing.