Nasdaq and Singapore Exchange (SGX) have signed an agreement that could make it possible for companies to list on both exchanges at the same time.
Ultimately, the agreement seeks to enhance companies’ access to capital market funding and boost their corporate profiles in both markets. As part of the agreement, Nasdaq and SGX are investigating the demand among corporates for a concurrent or sequential listing on both exchanges.
‘The business landscape today is borderless,’ says SGX chief executive Loh Boon Chye. ‘Fast-growing Asian companies looking to tap the capital markets can choose to list on SGX on Asian home ground, and embark on a listing on Nasdaq as they expand their business globally.’
This arrangement would add value to SGX-listed companies looking to extend their reach in the capital markets and raise their profile in the US, adds Loh. ‘Through this partnership, we also look forward to enhancing the awareness of Nasdaq’s suite of corporate services in Asia,’ he says.
Nasdaq chief executive Adena Friedman adds: ‘We recognize the unprecedented growth across Asia and its strategic importance in driving the next phase of innovation.’
Both parties are also reviewing the possibility of bringing Nasdaq’s international designation program to SGX-listed companies that wish to enhance their corporate profile and tap the investor base in the US.
Discussions are further underway to cross-promote Nasdaq and SGX’s marketing activities in North America and Asia, while SGX has started exploring the feasibility of streamlining the listing processes of both exchanges to create a more efficient pathway for companies seeking a listing in both venues.
