Reed Smith Client Alerts

In a welcome development, the Singapore Exchange and New York Stock Exchange announced on 22 July 2022 that they would collaborate on dual listings and work together in a number of other key areas focused on capital markets. This update shares more information on the collaboration and how it might benefit listing aspirants and market participants.

The New York Stock Exchange (NYSE) is the world’s largest stock exchange. The Singapore Exchange (SGX) is one of Asia’s leading, internationally focused multi-asset exchanges.

On 22 July 2022, the exchanges signed an agreement to collaborate on:

  • dual-listing companies on both exchanges;
  • identifying and developing new environmental, social and governance (ESG) products and services;
  • supporting index product development; and
  • exploring new exchange-traded fund (ETF) products.

The collaboration seeks to create a connected ecosystem to facilitate access to capital and the development of new investment products and solutions to address the varied needs of market participants as they evolve and grow in complexity.

Dual-listed companies

  • can expect better price-discovery, single-market volatility hedging, and round-the-clock trading;
  • are able to tap into wider pools of capital, in key markets outside of their home regions;
  • are able to access a greater spread of investors, both institutional and retail; and
  • enjoy greater profiling and research coverage.

SGX recently welcomed the listing of NIO, a leading company in the premium smart electric vehicle market, now triple-listed on NYSE, SGX and the Hong Kong Stock Exchange. This follows the listing of AMTD International, a comprehensive financial services conglomerate in Asia, which is today dual-listed on NYSE and SGX.