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SGX oversold - Potential Merger buyout
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singaporegal
Supreme |
25-May-2006 11:11
Yells: "Female TA nut" |
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SGX just crashed out. |
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singaporegal
Supreme |
25-May-2006 11:11
Yells: "Female TA nut" |
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SGX just crashed out. |
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travelbug
Member |
25-May-2006 10:11
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This bodes well for SGX. When investment climate improves, SGX will be a bull stock
End to China' s IPO ban won't hurt listings here Smaller firms and those wanting global exposure will still head for Singapore By Chua Kong Ho, Markets Correspondent and Tschang Chi-chu, China Correspondent in Beijing
CHINA'S decision to allow the Shanghai and Shenzhen bourses to resume accepting initial public offerings (IPOs) will not stem the stream of mainland firms seeking to raise funds in Singapore. The reason is scale: The mostly smaller, private-sector companies in China would likely have to take a back seat to larger state-owned enterprises if they opted to list on the mainland. 'I don't think the Chinese market can supply the funding that all the Chinese companies need,' said Mr Lawrence Wong, head of listings at the Singapore Exchange (SGX), which has 104 listed companies from China as well as 51 from Hong Kong and 11 from Taiwan. 'Chinese companies go out of China for a reason, particularly those that want international exposure and access to the international capital market. So for this type of companies, they will still come out and list.' The SGX has signed memorandums of understanding with the Zhejiang, Shandong and Wuxi authorities to identify growth companies with funding needs. Market-watchers said last week's decision to lift the IPO ban will enable companies such as Air China and Bank of Communications, which are listed in Hong Kong, to return home to raise capital. The suspension was imposed in May last year as listed firms converted US$250 billion (S$398.8 billion) in non-traded state-owned shares into regular traded stock. Despite the global fall in equity markets in the past week, demand for quality China listings remains red-hot. The retail tranche of Bank of China's IPO in Hong Kong was oversubscribed by 70 times and mainland investors are clamouring for some of these firms to raise funds in China. However, the long queue means offshore markets such as Singapore and London's Alternative Investment Market would be able to attract smaller companies seeking listings. 'There's still enough food for the rest of the world,' said Mr Choo Chee Kong, chief executive of Westcomb Capital. 'There's a long queue for listings on the Shanghai and Shenzhen markets. It doesn't mean the floodgates are open; it's still a controlled process, there's still a quota system and it's usually the large state-owned companies that get priority.' UOB Asia joint managing director Soon Boon Siong, agreed: 'There are probably many companies from China that will still choose to list here for various reasons, such as the perceived shorter queue on SGX. In addition, small-scale firms have a higher chance of getting listed on SGX.' Despite the fall in global equity markets and in China plays on the Singapore bourse, observers say interest in China plays remains strong. Last year, China plays enjoyed an average turnover velocity of 150 per cent while Singapore shares had a turnover velocity of 50 per cent. A revision of listing requirements by the China Securities Regulatory Commission may also help steer smaller mainland companies to seek funding overseas. New IPO applicants must have at least 30 million yuan (S$6.1 million) in net profit and 300 million yuan in revenues in total for the three previous years. Firms that miss their profit forecasts by more than 50 per cent are barred from seeking a listing for three years. |
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educator
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25-May-2006 07:51
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hi, me newbie... what has this deal got to do with SGX? why would SGX stock price go up because of this? |
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jschan_99
Member |
24-May-2006 23:48
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Shall see it back to 4.36 next week... |
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jschan_99
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24-May-2006 23:48
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Shall see it back to 4.36 next week... |
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jschan_99
Member |
24-May-2006 23:46
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SGX maybe in focus...after this... Australian regulator approves ASX, SFE deal Email this article Print article Feedback SYDNEY - Australia's competition watchdog on Wednesday approved a A$2.2 billion (US$1.6 billion) plan for the Australian Stock Exchange to buy smaller rival SFE Corp, creating the world's eighth-biggest bourse by market value. The green light from the regulator, which opposed a similar plan seven years ago, propelled shares in both the Australian Stock Exchange (ASX) and SFE nearly 7 per cent higher as investors cheered the decision. 'The proposed acquisition is unlikely to substantially lessen competition given strong evidence that the ASX and SFE are separate monopolies, and to large extent do not compete,' Australian Competition & Consumer Commission Chairman Graeme Samuel said. A wave of consolidation has swept global stock exchanges over the past year, with the latest move coming from the NYSE Group, which on Monday made a share and cash bid for European exchange Euronext to create a transatlantic giant with a market capitalisation of US$21 billion. -- REUTERS |
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