S'pore, M'sia, Thailand publish guide for cross-border offerings
Singapore
AUTHORITIES in Singapore, Malaysia and Thailand have published a handbook to guide companies that hope to offer securities across borders through a streamlined review framework.
Issuers who wish to offer shares or debt in more than one of the three participating countries and who abide by the Asean Disclosure Standard Scheme implemented in April 2013 can currently expect a regulatory review of a prospectus to be completed in about three to four months under a Streamlined Review Framework that was established this year.
The 44-page handbook is designed to help issuers to take advantage of the streamlined framework, said the Monetary Authority of Singapore and the Singapore Exchange in a joint statement.
The handbook includes explanatory notes on how to understand the disclosure requirements and the review process, as well as other listing requirements in Singapore, Malaysia and Thailand.
The handbook is the latest step taken by the three countries to try to open up the borders between their capital markets. The Asean Capital Markets Forum was set up in 2004 to improve connectivity between South-east Asian markets and to promote the freer flow of capital.
The stock exchanges of Singapore, Malaysia and Thailand are already tied through a trading link, and lawmakers have expressed hope that the link could be extended to other exchanges in the region.
