Singapore works to boost the stock market

0


Singapore is working to boost its stock market, startups and entrepreneurs through a host of new initiatives aimed at strengthening the country’s role as a funding hub.

Singapore is working to boost its stock market, startups and entrepreneurs through a host of new initiatives aimed at strengthening the country’s role as a funding hub.

In an announcement on September 17, the Singapore government stressed that the plan aims to increase the country’s attractiveness as a place to raise capital for local and regional businesses.

State-owned investment firm Temasek Holdings and stock operator Singapore Exchange Ltd. (SGX) will join the effort.

The Singaporean government and Temasek will set up a new fund that will have a starting tranche of SGD 1.5 billion (USD 1.1 billion) to fuel public fundraising and financing of pre-initial public offerings (IPO ) high growth companies.

The investment arm of the Economic Development Board will launch a growth IPO fund of up to SGD 500 million initially to invest in companies that are technology innovators and at least two rounds of financing away from public listing .

The fund will partner with companies to help them grow, in preparation for an IPO in Singapore.

SGX will work with businesses to provide customized capital market solutions, ranging from private fundraising to improving liquidity.

In addition, Temasek will launch a strategy to promote domestic investment, with the aim of favoring its stock exchange which has struggled with lukewarm quotes and low liquidity in equity transactions./.

VNA


Leave A Reply

Your email address will not be published.