Moomoo Securities Malaysia Sdn. Bhd. (Moomoo MY) has launched a its initial public offering (IPO) subscription service, setting a new benchmark in the Malaysian investment landscape. This pioneering service allows investors to subscribe to IPOs directly through the Moomoo App, marking a significant shift in how Malaysian investors access IPOs. Moomoo MY is the first in Malaysia to offer a completely seamless, online IPO subscription process, eliminating traditional paperwork and queues, and enabling investors to participate directly from their devices.
Ivan Mok, CEO of Moomoo Securities Malaysia, highlighted the transformative vision behind this initiative. “This service is a cornerstone in Moomoo MY’s mission to revolutionize the financial services landscape. By being the first platform in Malaysia to offer a direct and seamless online IPO subscription process, we are not only setting a new industry standard but also opening doors for potential investors and paving the way for a more inclusive financial ecosystem. Our goal is to empower every investor with the tools and knowledge to participate confidently in IPOs.”
The new CDS Account-IPO feature in the Moomoo App allows investors to bypass traditional bank transfers and paperwork. The service supports direct in-app deductions and provides real-time updates throughout the subscription process, ensuring investors are well-informed at every step. Setting up the CDS Account-IPO is straightforward, with users navigating to the ‘Accounts’ section on the Moomoo App and following prompts to ensure personal and bank account information is accurate and updated. Successful IPO shares will initially be credited to the user’s CDS Account-IPO before being transferred to their comprehensive Moomoo MY account.
Moomoo MY offers this service with no fees for IPO subscriptions or maintenance of CDS accounts, paired with a competitively low financing rate of 6.8%. These conditions make it an attractive and accessible option for investors aiming to maximize their financial resources.
Additionally, Moomoo MY enhances this service with comprehensive resources within the app, including detailed information about IPOs, business analyses, and live Q&A sessions with business leaders. These tools ensure equitable access to crucial information, empowering investors to make smarter, well-informed decisions. This approach aligns with Moomoo MY’s mission to foster a knowledgeable and empowered investor community.
“Our platform does more than facilitate transactions. Through comprehensive educational resources and direct engagements such as live webinars, we are creating a community of well-informed investors. These efforts ensure equitable access to crucial information, enabling retail investors to make decisions on a level playing field,” Mok elaborated.
The upcoming Johor Plantations Group IPO, expected to be the largest IPO of 2024, will be available for Malaysian investors to subscribe to via this innovative service on the Moomoo platform. This offering, available until June 24th, will be accompanied by a live Q&A webinar with its Managing Director, Faris Adli Shukery, providing detailed insights into the IPO and the company’s future plans and growth strategies.
Moomoo continues to lead the way in providing its users with real-time market data, innovative tools, and a user-friendly interface that empowers informed investment decisions and strategic trading actions. Since its launch, the platform has quickly risen to prominence in the Malaysian market, reaching 100,000 clients in just six weeks and now boasting over 300,000 Malaysian users. As of April 23, 2024, Moomoo is the most downloaded financial app in Malaysia
