Singapore Stock Exchange to raise requirements for mainboard listings

13:19, January 07, 2010      

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The Singapore Exchange (SGX) is looking to raise the bar for mainboard listings to put clear water between larger companies on the mainboard and firms on the secondary board, local media reported on Thursday.

The local bourse has unveiled a series of proposals, including raising the minimum share issue price for initial public offerings (IPOs) or reverse takeovers from 20 cents to 50 cents, slated for implementation in the fourth quarter of the year, according to local English newspaper the Straits Times.

The measures aim to enhance Singapore's position as a capital market of choice and offer two distinct platforms catering to the requirements of companies of varying profiles.

The SGX noted that the mainboard was positioned more advantageously with longer track records, while the second board catered to fast-growing companies under a sponsor-supervised regime.

The proposals follow from an SGX examination of the admission criteria used in other developed markets. It found that companies seeking listings in these markets often far exceeded baseline criteria.

Source: Xinhua
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