SGX introduces Primary Listing Framework for Dual Class Share Structures

05 Jul 2018 LegisWatch

On 26 June 2018, the Singapore Exchange ("SGX") announced the introduction of rules (which took effect on the same date) to make possible the listing of companies with dual class share ("DCS") structures on the Mainboard ("Mainboard") of the Singapore Exchange Securities Trading Limited ("SGX-ST"). Please refer here for the specific amendments to the SGX-ST Listing Rules (Mainboard) ("Mainboard Rules").

The amendments to the Mainboard Rules follow two rounds of public consultation conducted by SGX in February 2017 (to seek feedback on broad policy considerations on whether to introduce a primary listing framework) (available here) and March 2018 (to seek feedback on the proposed amendments to the Mainboard Rules) (available here). The response to each of these rounds of consultation are available here and here, respectively.

This Update provides an overview of the listing framework for DCS structures.

If you would like information on this or any other area of law, you may wish to contact the partner at WongPartnership that you normally deal with or any of the following partners:

Gail ONG
Head – Equity Capital Markets Practice
d +65 6416 8205
Click here to see Gail’s CV.

LONG Chee Shan
Partner – Equity Capital Markets Practice
d +65 6416 8210
Click here to see Chee Shan’s CV.