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Indian companies have now started looking at the Singapore Stock Exchange for fund raising and listing. The SGX became a shareholder in the Bombay Stock Exchange last week.

Two Indian companies, Meghami and Berger, are already listed on SGX and according to a leading investment banker, a chemical and a shipping company are also pursuing their plans for raising fund and getting listed on the SGX.
DLF and Indiabulls are looking at REIT "The queue is getting longer," he said.

SGX, the banker said, is also interested in India's commodity market.
The SGX Advantage;
* Developing an Asian platform for growth companies seeking an international listing venue for their capital-raising needs, as well as for financial institutions to list structured products;
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Providing a centre for customers to manage their risk and trading needs in the Asian time zone;
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Forging strategic partnerships and alliances to achieve greater synergies and efficiencies. This enables us to deliver a broader array of products and services with a shorter time-to-market.

BSE and SGX are quite enthused about working jointly for listing and derivatives. Seck Wai Kwong, senior executive vice president, SGX, said in an e-mailed reply that the exchange wants to identify new business development opportunities in the areas of listings and product development, including securities, derivatives and commodities.

"The signing of the agreement marks the beginning of our collaborative efforts. We are holding discussions with BSE on the possibilities."

In terms of time zone, Singapore falls between Japan and India and hence one of the ideal markets for raising funds by companies having a good track record. An investment banker said that companies with a good track record would find SGX an attractive option to list.

Kwong said as an international platform for capital formation, there are several ways a company can raise funds through a listing on SGX. In addition to primary and secondary listings, companies can also choose to issue global depository receipts. We are positive that opportunities for Indian companies seeking offshore funds will increase given that India's financial liberalisation is taking shape.

On becoming a shareholder in BSE, he said that it is a landmark transaction for both BSE and SGX as this is the first time two Asian exchanges have come together for a transaction in such a manner.

"We look forward to supporting BSE's goal to strengthen their competitive position. SGX offers our Asian advantage to BSE as Asia-Pacific's first demutualised and integrated securities and derivatives exchange. We will also share with BSE our experience in growing our derivatives market and collaborate with them to grow their business in India."

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SGX bourse wants more foreign listings


Friday, June 22, 2007

Singapore Exchange Limited (SGX), which operates the local stock market, aims to have more than half of its listings be foreign firms by 2012, a top executive said in remarks published Thursday.

The push to have more foreign firms listed here, principally from China and Southeast Asia, is aimed at boosting the city-state as a regional financial center, SGX head of listing Lawrence Wong told the Financial Times.

SGX aims to attract companies with a market capitalization of up to S$3 billion (US$1.95 billion) to list on the exchange.

"We expect to see more and more companies listed here from overseas and it could be a majority," Wong was quoted as saying.

"This may happen within the next five years," he added.

Thirty-seven percent of the 738 firms listed on SGX and its junior Sesdaq board were foreign as at the end of May, according to the report.

Aside from China, Southeast Asia's fast growing economies such as Vietnam and Indonesia are also targeted by SGX, said Wong.

"Southeast Asia is very good hunting ground for us," he said.

Singapore is facing stiff competition from Hong Kong to attract Chinese firms but Wong says the city-state can still hold its own in the game.

"China is a huge country with a huge economy. We don't believe that just one or two exchanges alone will be able to supply all the funds required by Chinese companies," he said.

Source: SGX bourse wants more foreign listings - The China Post