Singapore exchange eyes Asian dual listings with PSE deal as local US shares struggle for volume

Singapore bourse operator SGX said on Thursday it has signed an agreement with the Philippine Stock Exchange to explore a range of offerings, including depository receipts, as it struggles to attract trades for locally listed US stocks.

Here are more details:

• 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 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.
• The exchange operator already offers depository receipts of Thai, Hong Kong and Indonesian stocks.

Reuters

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