SGX eyes Asian dual listings with Philippine Stock Exchange
The exchange operator has struggled to attract investor interest for US stocks.
On October 22, the SGX Group announced it had signed an agreement with the Philippine Stock Exchange to explore various offerings. These may include depository receipts, exchange-traded funds (ETFs) focused on investment themes, and derivatives. This move comes as the exchange operator grapples with attracting sufficient trade for US stocks listed through its Singapore depository receipts programme.
The programme has faced challenges due to the presence of rival products and cautious investors, leading to extremely low trading volumes. Loh Boon Chye, CEO of SGX Group, noted that closer ties between their markets could make such opportunities more accessible and provide companies with additional avenues to raise capital and connect with investors across the region.
Currently, the SGX Group already provides depository receipts for Thai, Hong Kong, and Indonesian stocks.
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- SGX eyes Asian dual listings with Philippine Stock Exchange businesstimes.com.sg
