Singapore Exchange to Streamline Dual Listings for Nasdaq Companies
July 21 2020 - 9:32PM
Dow Jones News
By Yifan Wang
Singapore Exchange Ltd. said it has partnered with Nasdaq Inc.
to streamline the process of dual listings in the Asian city-state
by companies traded on the U.S. tech exchange.
The Singapore exchange operator will accept listing documents
based on information from companies' filings in the U.S., in
addition to further disclosures specifically required in Singapore,
it said late Tuesday.
The two exchanges will also facilitate the regulatory exchange
of information on dual-listed companies to help them better access
capital markets funding in both jurisdictions.
China's largest tech companies traded in the U.S. have
increasingly sought listings in Asia amid rising U.S.-China
tensions.
Since late 2019, e-commerce firms Alibaba Holdings and JD.com,
as well as gaming developer NetEase Inc., have floated shares in
Hong Kong.
On Monday, Alibaba's financial arm Ant Group unveiled plans for
dual listings in Hong Kong and Shanghai, a deal that could become
one of the largest share offerings in history.
Write to Yifan Wang at yifan.wang@wsj.com
(END) Dow Jones Newswires
July 21, 2020 21:17 ET (01:17 GMT)
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