SGX drops private notification plan for significant deals

Singapore

LISTED firms and their controlling shareholders will no longer need to privately tell the Singapore Exchange (SGX) about a significant transaction before the deal is made public, after a fresh bourse rule change that some market watchers saw as essentially euthanising a toothless tiger.

Backing down on an earlier proposal to codify the practice of private notifications to the bourse, the SGX said in a press release on Tuesday evening that feedback via a public consultation "showed an overall lack of consensus on the right timing for such private notifications by companies and/or controlling shareholders".