Higher due-diligence standards for IPO managers, sponsors with immediate effect
ABS guidelines seek to boost assessment of internal controls, sustainability and viability of a business, and compliance, especially in niche or higher risk areas
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Singapore
WITH immediate effect, issue managers and full sponsors which advise firms seeking to list on the Singapore Exchange (SGX) will be held to higher standards for the companies they help take public.
Under the enhanced listings due diligence guidelines issued by the Association of Banks in Singapore (ABS) on Friday, they will be subject to higher standards when they conduct their due diligence work during an initial public offer (IPO), reverse takeover and listing process.
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