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3,215.7
-4.3 (-0.13%)

 

  • STI Straits Times Index
    3,215.7
    -4.3 (-0.13%)
     
  • KLCI FTSE Bursa Malaysia KLCI
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    -1.7 (-0.11%)
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    63.0 (2.16%)
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  • Volume: 876.2M
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  • Rise: 145
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World Indices
Name Last Change
Nasdaq 9,731.2 +19.2
HSI 28,000.5 +184.9
HSCEI 10,983.6 +120.2
Jakarta 5,865.9 -1.0
Nikkei 225 23,523.2 -164.3
SSE Comp 2,979.7 +62.7
Shanghai A 3,122.5 +65.7
Shanghai B 239.6 +4.5
KOSPI 2,242.2 -1.4

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China Sun Bio

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SGX

Stock Chart
Last Done 9.320
Change +0.100 (+1.08%)
Volume 2,072.8
Range 9.220 - 9.340

Helping S-chips regain their mojo

22 May 2018 09:00

By Angela Tan

CHINA companies seeking to raise funds by listing in Singapore will soon have to rope in state-owned enterprises (SOE) or mainland cornerstone investors, as Singapore Exchange Regulation (SGX RegCo) tries to win back the lost trust in S-chips.

For future initial public offer (IPO) applicants, the regulator will see if they have Chinese cornerstone investors, preferably institutional investors, and whether or not they are being brought in by Chinese investment banks.

Cornerstone investors are usually institutions that commit in advance to invest a fixed amount of money or shares in an IPO. They include sovereign wealth funds or state-linked investment vehicles and tycoons. The presence of this investor class is typically sought in markets like Hong Kong for their halo-effect on IPOs to entice retail investors.

However in Singapore, the move is part of the solution to what SGX RegCo believes is the crux of issue involving S-chips, Chinese companies listed in Singapore but with operations in the mainland.


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Attachments: Source: Business Times
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