SGX eyes Asian dual listings with Philippine Stock Exchange

SINGAPORE bourse operator SGX Group said on Thursday it has signed an agreement with the Philippine Stock Exchange to explore a range of offerings, including depository receipts, as it struggles to attract trades for locally listed US stocks.

The exchange operators will explore offering products including depository receipts, Exchange Traded Funds (ETFs) built around investment themes similar to both markets and derivatives, SGX Group said

The city-state has struggled to attract investor interest for US stocks listed through its Singapore Depository Receipts programme, with rival products and wary investors keeping volumes extremely low

“Closer links between our markets can make that opportunity more accessible, while giving companies more avenues to reach capital and investors across the region,” said CEO of SGX Group Loh Boon Chye.

The exchange operator already offers depository receipts of Thai, Hong Kong and Indonesian stocks. REUTERS