The Singapore Exchange (SGX) announced the inaugural sponsors for Catalist on 4 February 2008.
Catalist was conceptualised to move away from SGX-regulated regime for listing on Sesdaq to one that is based on disclosure-based one on Catalist. The key change is that the Catalist listing aspirant must find itself a SGX-approved professional sponsor to guide it through listing procedures and then to agree to be being supervised by the same sponsor for 3 years after initial listing. (See my earlier Blog posting Financial Tip #96.)
Catalist sponsors could be professional advisers from merchant banks, law firms or accountancy practices. The first batch of sponsors has now been revealed.
Catalist Full Sponsors (10)
Merrill Lynch (Singapore)
Morgan Stanley Asia (Singapore)
Overseas-Chinese Banking Corporation
Prime Partners Corporate Finance
Catalist Continuing Sponsors (6)
Asian Corporate Advisors
Boulton Capital Asia
R&T Corporate Services
Stamford Corporate Services
Full sponsors are financial advisers which will get potential companies for listing on Catalist. The sponsors will then continue to see them through 3 years after the initial listing.
The Continuing Sponsors are involved in advisory activities and overseeing a company’s compliance and listing rules while the company stays on in Catalist. They do not get to help company to list on Catalist.
The current list of sponsors is expected to change or expand in the future so that more players can come on board provided they meet the SGX’s stamp of approval.
Written on 2/8/2008 11:31 AM
Copyright © 2008, the author known as LKT in Singapore.
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