SGX in tie-up with Nasdaq on concurrent listing

THE Singapore Exchange inked on Wednesday an agreement with Nasdaq Inc that will see the two exchanges collaborating on a concurrent or sequential listing on both exchanges.

The two parties said that with this collaboration, they hope to enhance the channels available for companies to access capital market funding and enhance their corporate profiles both in New York and Singapore.

SGX's CEO, Loh Boon Chye, described the current business landscape as borderless. He highlighted that with this collaboration, fast-growing Asian companies could choose to list first on SGX on the home ground, followed by Nasdaq as they expand their business globally.

He said: "We are excited to partner with Nasdaq in this collaboration to provide value-add to SGX's listed companies who are looking to extend their reach in the capital markets and raise their profile in the United States."

Nasdaq president and CEO Adena Friedman said that the exchange was proud to have already featured "many successful innovators across Asia" and also linked up as a strategic partner to SGX. "We recognise the unprecedented growth across Asia and its strategic importance in driving the next phase of innovation," she added.

Both parties are also reviewing the feasibility of bringing Nasdaq's International Designation programme to existing SGX-listed companies that wish to enhance their corporate profile and tap the investor base in the United States.

The programme will enhance the visibility of listed companies and could improve the liquidity for their shares that are being traded in the US on the OTC (over-the-counter) market.

Discussions are also underway to cross-promote marketing activities of both exchanges in North America and Asia.