Singapore exchange eyes Asian dual listings with PSE deal as local US shares struggle for volume
Singapore exchange eyes Asian dual listings with PSE deal as local US shares struggle for volume Oct 22 (Reuters) - Singapore bourse operator SGX Group SGXL.SI said on Thursday it has signed an agreement with the Philippine Stock Exchange PSE.PS to explore a range of offerings, including depository receipts, as it struggles to attract trades for locally listed US stocks.
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The exchange operators will explore offering products including depository receipts, Exchange Traded Funds (ETFs) built around investment themes similar to both markets and derivatives, SGX Group said
The city-state has struggled to attract investor interest for US stocks listed through its Singapore Depository Receipts program, with rival products and wary investors keeping volumes extremely low
"Closer links between our markets can make that opportunity more accessible, while giving companies more avenues to reach capital and investors across the region," said Loh Boon Chye, CEO of SGX Group
The exchange operator already offers depository receipts of Thai, Hong Kong and Indonesian stocks
(Reporting by Nichiket Sunil in Bengaluru; Editing by Jonathan Ananda)
((Nichiket.Sunil@thomsonreuters.com;))
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Singapore exchange eyes Asian dual listings with PSE deal as local US shares struggle for volume