Singapore Exchange opens liaison office in India to attract listings
22 Jul 2014
Singapore Exchange Ltd (SGX) has opened an office in Mumbai to facilitate Indian companies list and raise capital overseas using its facility so that Indian companies are able to seamlessly raise capital.
"SGX can play a role in providing Indian companies with access to capital markets overseas that will be complementary to that available locally. This will expand the capital pool to the benefit of companies involved,'' Magnus Bocker, chief executive officer, SGX said while announcing the plan to open a liaison office in India on Monday.
''The funds raised can then be channeled back to India to support its infrastructure and business development, and contribute to India's overall economic growth," he said.
He also invited Indian companies to list on the Singapore Exchange and raise capital.
"Our India Office will enable us to better support Indian enterprises seeking to raise capital," said Magnus Bocker, CEO of SGX in the statement.
"We look forward to working with partners in India to assist companies in reaching out to the international investment community."
Finance minister Arun Jaitley had, earlier this month, announced plans to liberalise norms for real estate investment trusts (REITs) and American and global depositary receipts of domestic companies.
SGX, which has been a regular platform for Indian offshore bond issuers, has experienced a sharp fall in listings this year
amidst a penny stock scandal last year, is in a bid to win back companies and investors with new initiatives.