How to subscribe to a Bursa IPO in Moomoo — from opening a CDS account to shares in your account (screenshots of every screen)

If you’ve heard someone say “I got an IPO” and wondered how to get in on it, this tutorial walks through every screen from start to finish. In Moomoo, the process has four parts:

1. Open a CDS Account-IPO, the special account for applying for IPOs
2. Find an IPO that’s currently open and read its details
3. Fill in the application and understand how much money gets held
4. Check the balloting result, and know when your shares can be sold

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IPO and CDS in two minutes

An IPOIPO (Initial Public Offering)When a private company lists on the stock exchange for the first time.See it in the glossary → (Initial Public Offering) is when a company lists on Bursa Malaysia for the first time and offers its shares to the public. You apply before the closing date. If public demand exceeds the shares on offer, allocation is done through balloting.

CDSCDS (Central Depository System)The official record of Bursa Malaysia share ownership, held at the exchange level.See it in the glossary → (Central Depository System) is Bursa Malaysia’s record-keeping system for share ownership. In Moomoo, you need a special account called CDS Account-IPO to apply for IPOs.

According to the Moomoo Malaysia Help Center, there are three things you should know first:

• Only Malaysian citizens are eligible to apply for Malaysian IPOs online.
• You must have a Universal Account (Moomoo’s regular trading account) before you can open a CDS Account-IPO.
• No application fee during the promotional period that started 12 June 2024, for a limited time. Our application screen on 18 September 2026 still showed a fee of RM0.00.

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Part 1 — Open a CDS Account-IPO (one time only)

1

Accounts tab

Accounts → All → CDS Account-IPO

Open the Accounts tab and tap the All icon at the end of the icon row. The All Account Services screen opens.

Under the Trade section, tap CDS Account-IPO.

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2

CDS Account-IPO form

Prepare your details, then fill in the CDS application

Before you start, prepare three things:

• IC details
• Bank account details, if requested
• Proof of bank account, if requested

Then follow the six steps in the form:

1. Go to the CDS Account-IPO form
2. Check your profile details
3. Fill in your IC details. Your address must match the address on your IC.
4. Choose a bank account, or add a new bank account
5. Read and sign the Customer Declaration
6. Submit the application

Moomoo usually processes the application in under 2 working days. Status updates come through email and app notifications. If any extra information is needed, you’ll be notified through the same channels.

The account in our example was already opened before, so this form no longer appears for us. The list of steps above is taken from the official How to open a CDS Account-IPO article in the app’s Help Center.

3

Accounts tab

Check that your CDS Account-IPO is active

There are two ways to check:

• Tap CDS Account-IPO again in All Account Services. If it’s active, the Account Opened screen appears with a message that the account is ready to apply for Malaysian IPOs.
• Tap the account name in the Accounts tab, for example “Universal Account ▾”. In the Account List, you’ll see CDS Account-IPO listed under Universal Account.

Don’t worry if the CDS Account-IPO’s Net Assets shows 0.00 MYR. This account doesn’t hold money, and it can’t be used to deposit, withdraw, exchange currency, or trade. Application funds are taken from your Universal Account, and successful IPO shares are transferred into your Universal Account before the listing date.

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Part 2 — Find an IPO and read its details

4

Accounts tab

Open the IPO list

From the Accounts tab, tap the IPO icon in the icon row below Total Assets.

There are two other paths that lead to the same screen:

• Accounts → All → Trade → IPO
• Markets → MY → IPO

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5

IPOs screen

Available tab: IPOs currently open

The IPOs screen has three tabs: Available, To be Listed and Listed. The Available tab lists IPOs still open for applications. The number in brackets is how many IPOs are currently open.

Every card shows three details:

• Min Amount — the minimum amount to apply. In this example, 25.00 MYR for GBBOND and 28.00 MYR for SLG. Bursa IPOs can be applied for with a small amount of capital.
• Expected Deadline — the closing date and time, with the time left shown in red. GBBOND has 16H Left (16 hours), SLG has 4D Left (4 days).
• Results Out — when the result gets announced

At the top there’s History (your application record), KOL Views, News and Learn.

We’ll use 0476 SLG as our example. Tap the SLG card to see its full details.

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6

0476 SLG page

IPO page: timeline, basic info and prospectus

The IPO page has a timeline at the top, from left to right:

Stage	Meaning	SLG
Start	Applications open	10 Sep
IPO Subs DL	Application closing date	22 Sep, 5:00pm
Ballot	Balloting takes place	24 Sep
Results Out	Result announced	2 Oct
IPO	Listing day	6 Oct

Below that, Basic Information shows the Min Amount (28.00 MYR), Issue Price (RM0.280 per unit), Offering Shares (28 million units), Funds Raised (RM7.84 million) and Issuing House (TIIH, the party handling the application and balloting).

The Prospectus link on the right opens Bursa Malaysia’s announcement page. In our attempt, that page’s content didn’t load inside the app. If that happens to you, open the Bursa Malaysia website in your browser and search for that company’s prospectus announcement. What’s worth reading in the prospectusProspectusThe official document explaining an IPO's business, finances, and risks.See it in the glossary → is covered at the end of this tutorial.

When you’re ready, tap the orange Subscribe button at the bottom left.

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Part 3 — Fill in the application

7

After tapping Subscribe

New Issue Subscription screen

The New Issue Subscription screen opens. Read from top to bottom:

• SLG 0476 and Issuing Price 0.28 MYR — the price per unit if your application is successful.
• A short timeline — End, Balloting and Expected Allotment. Tap Expand for the full dates.
• Universal Account — the account that pays for the application.
• Subscription Account: CDS Account-IPO — the account that receives the shares. If this field is empty or shows an error, your CDS isn’t active yet.
• Max BP(Margin) and Cash BP — your buying limits. Cash BP is your cash. Max BP(Margin) includes the collateral value of shares you hold.
• Estimated Frozen below — the amount that will be held, not deducted.

⤢CDS accountFunds on hold

8

Timeline

Tap Expand for all the dates

Tap Expand, and the Subscription Time box slides up from the bottom with the full dates and times:

• Start — 10/09, 2:20pm
• End — 22/09, 5:00pm
• Balloting — 24/09
• Expected Allotment — 02/10
• Expected Listing — 06/10

According to the Moomoo Help Center, balloting usually happens 2 to 3 working days after the closing date. Some IPOs have two rounds of balloting. The dates in the app are expected dates, and the actual dates follow the prospectus.

⤢Full dates

9

Subscription Shares

Choose the number of units

Use the − and + buttons to change the number of units. Each tap adds or subtracts 100 units, one lotLotThe minimum unit for buying a stock. On Bursa Malaysia, 1 lot = 100 shares.See it in the glossary →.

Estimated Frozen below updates instantly:

• 100 units × RM0.28 = RM28.00
• 500 units × RM0.28 = RM140.00

Below those buttons are two chips, Cash BP and Max BP(Margin), showing the maximum number of units you can apply for with that buying limit. In our screenshot, those numbers are blurred out.

According to the Moomoo Help Center, the minimum is usually 100 or 50 units, and there’s usually no maximum limit. Some IPOs have their own conditions, so check the prospectus.

⤢500 sharesRM140 on hold

10

ⓘ icon next to Subscription Method

Understand the subscription methods — watch out for margin

There are two application methods. Tap the ⓘ icon next to Subscription Method to read the official explanation:

• General Subscription — applies using your account’s maximum buying limit, meaning cash and collateral value after a haircut. Moomoo itself warns that this method may involve financing. If you don’t want to use borrowed money, make sure your application amount doesn’t exceed your Cash BP.
• Financing Subscription — apply for more units using marginMarginInvesting with money borrowed from your broker.See it in the glossary →. It may increase your chances of getting an allotment, but it carries financing interest of 6.8% per annum. On the day we took this screenshot, this option showed “Financing is currently unavailable”.

⚠️Don't borrow money for an IPO

If the IPO share falls after listing, you lose on the money you borrowed, and you still have to pay the interest. As a beginner, apply with an amount that doesn’t exceed your Cash BP, meaning your own cash.

⤢6.8% p.a. interest

11

Fee Included ▾

Check the fees and acknowledgement

Tap Fee Included 0.00 MYR ▾ at the bottom left. The Fee Details box slides up:

Row	Example for 100 units of SLG
Shares Requested	100 Shares
Amount	28.00 MYR
Fees (Subscription Fee + SST)	0.00 MYR
Frozen Amount	28.00 MYR

Below that is an acknowledgement. By submitting the application, you acknowledge that the CDS Account-IPO is only for IPO applications and not for trading, and that IPO shares will be transferred automatically into your Universal Account before listing.

The IPO Subscription Agreement and Risk Disclosure Statement checkboxes are already ticked. Tap the document names to read them before submitting.

⤢Acknowledgement

12

Scroll down the form

Read the notes below the form, then Submit

Scroll to the bottom of the form. There are seven notes, and two of them matter the most:

• Note 2 — Apply through one platform only. If you apply for the same IPO through several platforms, for example Moomoo and another bank or broker, all your applications will be rejected by the issuing house.
• Note 5 — Want to change your application? Before the closing date, cancel your existing application first, then submit a new one.

The other notes remind you that an IPO’s price can fall below the offer price after listing, that held funds stay locked until balloting is done, and that when shares become tradable depends on the issuing house’s confirmation.

Once everything’s correct, tap Submit. In this tutorial, we stopped here and didn’t send the application.

⤢One platform only

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Part 4 — After applying

13

IPOs screen → History

Check your application record in History

Go back to the IPOs screen and tap History at the top left. Every application has one card showing:

• Shares Requested and Amount — how many units and how much you applied for (blurred out in our screenshot)
• Current Status — the latest status
• Submission Time — when the application was sent

In our example record, you can see two different outcomes: Allotted 3,000 Shares (partial allotment) and Not Allotted (no allotment at all). Tap any card for the full details.

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14

Tap a record

Read the result: what happens to your money

The result page shows a large message at the top, and Subscription Details below.

If you’re successful, the message reads “Congrats! You’ve been allotted … Shares.” Look at these two rows:

• Unfrozen amount — the money held during the application, now released
• Funds Deducted — the price of only the shares you got, deducted from your account

A simple example: you apply for 10,000 units at RM0.28, so RM2,800 gets held. If you only get 2,000 units, that RM2,800 is released and only RM560 is deducted. You only pay for the shares you actually get.

If you’re unsuccessful, the message reads “Sorry, you were not allotted any Shares.” All the held funds are released (Unfrozen amount), and there’s no Funds Deducted row.

Both pages also show the Subscription Account (CDS Account-IPO) and Payment Account (Universal Account), plus Fees 0.00 MYR.

15

To be Listed and Listed tabs

Shares land in your account, and when you can sell them

If you’re successful, shares get credited into your CDS Account-IPO on the allotment date. They’re then transferred automatically, with your consent, into your Universal Account before the listing date. Those shares will appear in your holdings list in the Accounts tab.

After the result, the IPO moves to the To be Listed tab, which shows the Initial Price and the Exp List Date (expected listing date). Once listed, it moves to the Listed tab.

IPO shares can be sold once listed, just like regular stocks. But according to Moomoo, there may be a delay before they become tradable, depending on the issuing house’s final confirmation.

The Listed tab also shows something very useful: the 1st-day %Chg column, the price movement on the first day. In our list, ESYS rose +400%, SRKKAI rose +90.62%, but ENEST fell −19.23%, LIFTECH fell −17.24%, and a few other IPOs didn’t move at all (+0.00%). Swipe the table left for the Accum %Chg column, the total change since listing.

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What’s worth reading in the prospectus

The prospectus is thick, and not many people read it. But there are four sections worth your time even if you only have 15 minutes.

Use of proceeds. What is the money raised actually for? Growing the business is a very different story from paying off old debt, or letting the original owners cash out their stake.

Risk factors. This section is mandatory, and the company must be upfront here. It’s usually the most useful part of the whole document.

Financials. Is the company profitable? Is revenue growing, flat, or shrinking?

Major shareholders. Who’s selling in this offering, and how much are they keeping? An owner cashing out almost their entire stake is a signal worth thinking about.

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The reality of allotment

For popular IPOs, public demand can exceed the shares on offer many times over. That means:

• You might get less than you applied for, like the “Allotted 3,000 Shares” record earlier
• You might not get any at all, like the “Not Allotted” record
• Applying for a bigger amount doesn’t guarantee you get more, depending on the issuing house’s allocation method

This is normal. An unsuccessful application doesn’t mean you did something wrong.

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Common mistakes

1. Applying for the same IPO through Moomoo and another platform. All your applications will be rejected. Choose one platform only for each IPO.

2. Using margin without realizing it. General Subscription uses your maximum buying limit, including collateral value. If you don’t want to borrow, make sure your application amount doesn’t exceed your Cash BP.

3. Opening your CDS at the last minute. Processing can take up to 2 working days, while IPO application windows are short. Open your CDS early.

4. Assuming Estimated Frozen money is gone. That money is only held. You only pay for the shares you get, and the rest is released after balloting.

5. Missing the closing date. The closing date is usually 5:00pm. Check the red countdown in the Available tab.

6. Assuming an IPO is guaranteed to rise on day one. The Listed tab itself shows IPOs that fell nearly 20% on their first day.

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Frequently asked questions

Who can apply for Malaysian IPOs in Moomoo? According to Moomoo, only Malaysian citizens. You also need an active Universal Account and CDS Account-IPO.

Is there a charge to apply for an IPO? At the time this tutorial was written, the application fee and SST are RM0.00 during Moomoo’s promotional period. That promotional period is limited, so check Fee Details before Submit. If you use margin, interest may be charged.

Can I deposit directly into a CDS Account-IPO? No. CDS Account-IPO doesn’t support deposits, withdrawals, or currency exchange. Application funds are taken from your Universal Account.

What’s the minimum number of units? Usually 100 or 50 units, depending on the IPO. Min Amount in the Available tab shows the minimum amount in ringgit.

Can I change the number of units after submitting? Before the closing date, cancel your existing application first, then submit a new one.

When does held money get released? After balloting is complete and the result is communicated to Moomoo. If you get a partial allotment, the unallotted portion gets released.

When can IPO shares be sold? After listing, once the issuing house completes its final confirmation. There’s sometimes a delay after listing day. The shares will appear in the Accounts tab.

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In short

Open your CDS early. Apply through one platform only. Use cash, not margin. Read the prospectus, not just the headlines. And treat an IPO like any other investment: you’re buying part of a business, and a business can succeed or fail.

This is educational content, not a recommendation to apply for any specific IPO. This is not financial advice.