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Deepti Sri · · 1 min readTemasek, GIC to help spur listings on Singapore exchange
“Singapore is planning new measures to boost its domestic stock market,” Bloomberg reported, citing sources familiar with the matter.
Details:
- Temasek’s 65 Equity Partners Holdings will reportedly back local and regional midcap firms, including those looking to go public, through its S$1 billion (US$745 million) fund. The Monetary Authority of Singapore is also likely to introduce additional features to fuel capital markets.
- State investors Temasek and GIC will use the country’s new framework for listings via blank-check companies to push more portfolio firms toward initial public offerings. The city-state’s new rules for special purpose acquisition companies (SPACs) are more liberal than those initially proposed in March.
Dive deeper:
- The new measures could bolster public listings on Singapore’s stock exchange as the bourse struggles to attract big newcomers amid long-time woes of low liquidity and squeezed valuations.
- Earlier this month, SGX released a set of new rules to ease the restrictions on SPACs to list on the bourse.
Currency converted from Indian rupees to US dollar: US$1 = S$1.34
Editing by Collin Furtado and Arpit Nayak
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