Singapore Exchange (SGX)

[weijian]

A move in the right direction, IMO.

SGX mandates minimum allocation of Mainboard IPOs to retail investors

Singapore Exchange (SGX) will mandate all Mainboard IPO companies to allocate to retail investors, at least 5%, or S$50 million, whichever is lower, of their offer size. The introduction of the minimum IPO allocation is aimed at facilitating greater retail participation in Singapore’s equities market. The new rules on the minimum allocation are effective 2 May 2017.

http://infopub.sgx.com/FileOpen/20170308...eID=442560

[YMPL]

More adjustments in the pipeline...

SGX consults on proposed equities market structure adjustments

Singapore Exchange (SGX) is consulting the public on proposed adjustments to the equities market
structure aimed at addressing market conditions, while balancing the diverse objectives and interests
of different segments of participants in the market ecosystem.

The three proposed adjustments are:
 Increasing the minimum bid size for stocks and relevant securities trading in the S$1.00 to S$1.99
range;
 Widening of the forced order range for stocks and relevant securities; and
 Changing trading hours via a mid-day break from 12.00pm to 1.00pm.

http://infopub.sgx.com/FileOpen/20170308...eID=442558

[YMPL]

A small case from MAS, amid the bigger case of penny stock.

MAS takes civil penalty action against divorced couple for unauthorised trading

SINGAPORE (March 8): The Monetary Authority of Singapore (MAS) has obtained a civil penalty judgement against two individuals, Wang Boon Heng and Foo Jee Chin, for carrying out unauthorised share trading in 2007.

A civil penalty action is not a criminal action, and does not attract criminal sanctions as it is designed to complement sanctions and provide what MAS terms a “nuanced approach” to combat market misconduct.
http://www.theedgemarkets.com.sg/article...ed-trading

[YMPL]

SGX should also shorten its settlement time, with today technologies.

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US SEC votes to shorten securities settlement time to two days
Source: Business Times Breaking News

[cyclone]

Singapore Exchange Said to Mull Tie-Ups as Deals Grow Harder

by Annie Massa , Matthew Leising , Andrea Tan , and Matthew Monks
March 30, 2017, 11:15 AM GMT+8

Even as regulators crack down on yet another round of consolidation among exchange operators, at least one major bourse is still keen to pursue deals.

Singapore Exchange Ltd., which runs Southeast Asia’s largest stock and derivatives market, has in recent months held exploratory talks about possible tie-ups with overseas exchange operators, people familiar with the matter said.

Discussions with parties including Nasdaq Inc. and CME Group Inc. have ranged from potential collaborations to the sale of a stake in the company or even a full merger, the people said, asking not to be identified as the details aren’t public.

SGX, with a market value of about $5.9 billion, has been weighing its options as rivals attempt to consolidate across the industry. An outright sale would be complicated as cross-border deals between exchange operators attract intense scrutiny from regulators, the people said. European Union regulators on Wednesday blocked Deutsche Boerse AG’s $14 billion takeover of London Stock Exchange Group Plc, adding to a long history of failed merger attempts between bourses.

More details in https://www.bloomberg.com/news/articles/...row-harder

[weijian]

I had always thought the self regulatory function was some kind of self comforting talk. A move away actually kinda proves that it isnt working?

Tan Boon Gin as CEO, sounds about right i suppose. And Prof Tan has to give up 5 directorships at listed companies - most probably he will be compensated similarly like what the current chairman is having.

SGX forms new regulatory unit; names Prof Tan Cheng Han as first chairman

http://www.businesstimes.com.sg/stocks/s...t-chairman

[cyclone]

SGX and SPDB sign MOU to enhance capital market ties between Singapore and China

News Release
12 April 2017

Singapore Exchange (SGX) and the Shanghai Pudong Development Bank (SPDB) have entered into a memorandum of understanding (MOU) at the 3rd Singapore-Shanghai Financial Forum, to strengthen capital market ties between Singapore and Shanghai.

Under the MOU, SGX and SPDB will work closely as strategic partners to raise the profile of Singapore’s capital market. The MOU outlines several areas for closer collaboration with a focus on leveraging the international fund raising platform of SGX. SPDB will recommend Chinese enterprises to raise funds through initial public offers (IPOs), listing of Real Estate Investment Trusts (REITs) and Business Trusts, and issuance of Offshore Renminbi (RMB) Bonds, including epositing their bonds where applicable, in the Central Depository of SGX.

The MOU will touch on financial and commodity markets as well, with SPDB exploring opportunities in gold futures on SGX. SGX’s Singapore Kilobar Gold Contract is the world’s first Shariah-compliant, exchange-traded and physically delivered wholesale gold futures. Both parties have also committed to jointly organising forums on SGX listings and commodity derivatives in China and Singapore.

More details in http://infopub.sgx.com/FileOpen/20170412...eID=447831

[cyclone]

SGX reports 3Q FY2017 net profit of $83.1 million

Highlights :
1. Revenue: $202.7 million, down 2% from a year earlier of $205.8 million
2. Operating profit: $103 million, unchanged
3. Net profit: $83.1 million, down 7% from a year earlier of $89.2 million
4. Earnings per share: 7.8 cents, down 7% compared to a year earlier of 8.3 cents
5. Cash from operating activities was $101.4 million versus a year earlier of $125.4 million
6. Interim dividend per share: 5 cents, unchanged.

More details in
1. http://infopub.sgx.com/FileOpen/SGXNet_3...eID=449110
2. http://infopub.sgx.com/FileOpen/20170420...profit_of_$83_million.ashx?App=Announcement&FileID=449111

[cyclone]

Singapore Exchange Said to Be Near Deal With Regulator for IPOs

by Andrea Tan  and Joyce Koh
May 23, 2017, 9:01 AM GMT+8 Updated on May 23, 2017, 5:37 PM GMT+8

Singapore Exchange Ltd. is nearing a deal with the city’s technology regulator to develop a system designed to encourage local startups to list on the bourse, according to people familiar with the matter.

Under the agreement, the bourse operator would help pair technology companies with investors with the aim of securing their listing in the city-state, the people said. SGX and the Infocomm Media Development Authority are close to finalizing the accord, said the people, who asked not to be identified because the talks are private.

Stock exchanges around the world are competing for IPOs as the fight for global capital intensifies. SGX’s tie-up with the regulator will deepen the exchange’s so-called sector approach, with four industries, including technology, the focus of its listings strategy. The move also comes as companies with Singapore roots including Razer Inc. and Sea Ltd., Southeast Asia’s most valuable startup formerly known as Garena, are said to be considering listing in Hong Kong or the U.S.

More details in https://www.bloomberg.com/news/articles/...r-for-ipos

[YMPL]

A surprise indeed. Global IPO, but done in Bursa, rather than SGX! The IPO will be quoted in US$? Any insight from experts here?

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Guess where Brunei's largest bank is listing?

By:
PC Lee
13/06/17, 04:27 pm
KUALA LUMPUR (June 13): Brunei's largest lender, Bank Islam Brunei Darussalam, aims to raise as much as US$500 million ($691 million) in the very first listing of a firm from the sultanate.

But what’s surprising is that the bank has chosen to be listed on Bursa Malaysia rather than the Singapore Exchange even though Brunei has a currency which is pegged to the Singdollar.

JPMorgan and Malayan Banking Bhd (Maybank) are set to be joint global coordinators for an initial public offering of US$200 million–US$500 million this year, reported IFR, a Thomson Reuters publication. A bookrunner is also likely to be added, it said.
http://www.theedgemarkets.com.sg/guess-w...nk-listing