Singapore
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...