SGX    Last:14.14    -0.23

SGX

It has emerged the frontrunner for a 5% stake in India's Bombay Stock Exchange (BSE), the Business Standard newspaper said on Thursday.The BSE had received offers that valuedit at US$600-US$800 million, the paper said, citing sources close to the development.



"The offer by SGX was on the higher side of this range," it said.



A spokesman for BSE said: "The process is on... nothing has been finalised yet."



The BSE, Asia's oldest bourse, has said it would reduce the stake held by its brokers by offering 26% to strategic investors and a further 25%through an IPO in May.



Local papers have earlier said SGX, the NYSE Group Inc., the London Stock Exchange , Nasdaq Stock Market Inc. and Deutsche Boerse were among those shortlisted for a stake in the BSE.



The BSE will also have to give shares to private equity players, for which Temasek, GIC andaGerman private equity player are in the running, Business Standard said.



The NYSE Group in January paid US$115 million in cash for a 5% stake in BSE's bigger rival National Stock Exchange. Private equity firm General Atlantic, SoftBank Asian Infrastructure Fund and investment bank Goldman Sachs & Co. also each bought 5%, the maximum permitted.

 

SGX on strong TA uptrend

 

Wow.... SGX doing extremely well today !

I'm surprised even during time of CD, it is still surging upwards!

 

DBS Vickers Securities maintained its "hold" call and lifted its target price to $6.10 from $4.63. DBS analyst Zy Sew Ho said that a stake in Bombaby Stock Exchange could make SGX a magnet for alternative listing destination for Indian companies.



Citing the stock's valuation, local stock broker CIMB-GK maintained its "underperform" call. "(The) earnings outlook makes the current 2008 financial year yield of 3.8% look stretched...," CIMB-GK analyst Ling Lee Keng said.



OCBC analyst Carmen Lee maintained a "hold" rating on SGX shares, saying the stock offered limited upside. But Lee raised her 2007 net profit forecast to $249 million, adding that "the pipeline for new IPOs looks set to maintain the momentum in 2007".

 

I saw the Money section of Straits Times today. SGX cutting down on clearing fees!

Good news for us punters !!!

 

I notice SGX more or less rises and falls in tandem with the STI.

 

See if it goes to 5.35 tomorrow. If it breaks through, very likely to downtrend with $1 target.

 

Could be starting on trend reversal southwards

 

BSE, founded in 1875 and Asia's oldest bourse, has set itself a deadline of May to reduce the stake held by brokers by offering 26% to strategic investors and another 25% through an initial public offering.

 

do not seem to see any target price(s) for more than a month. sgx out of radar screen(s)  for more than past one month?

 

Tell them only Bilbo iPunter can be invisible, but not the price bars... hehe.. :)

 

Yep... I think its the grid lines that blocks the bars. Actually I didn't notice until you brought it up because I'm more interested in the trend lines than the actual price bars.

 I'll send SJ a feedback email. They're very responsive to user feedback.

 

Does anyone notice the price bar on every first day of the month is missing from all the charts here? 

How to analyse ?  :(

Maybe if the gridlines can be removed it would be the solution?

 

Caution... SGX could be hitting its peak soon.

 

Hi Lookcc,  the font you use is too small, (on 04th Janaury 2007, ) try using the normal font please. Thank you.

 

The Bombay Stock Exchange Ltd. (BSE) has shortlisted London, Nasdaq, Deutsche Borse, New York and Singapore stock exchanges for the proposed sale of a 26% stake, the Business Standard newspaper reported on Saturday.



The newspaper, quoting sources, said that at its board meeting on Friday the exchange also decided to privately place some equity with domestic institutions, and banks which do not have their own broking outfits.



When contacted, BSE Managing Director and Chief Executive Officer Rajnikant Patel declined comment.



"There has been speculation on this ever since the plan for a stake sale was first mooted. It would not be right for me to make any comments at this point," he told Reuters.



The paper said that the exchange would be offering the stake to a maximum of three strategic investors.



Last month the Reserve Bank of India had said that foreign investment of up to 49% would be allowed in stock exchanges, depositories and clearing corporations. This would include a foreign direct investment of 26% and 23% sold to foreign institutional investors.



Markets regulator Securities and Exchange Board of India had said in November last year "that no person shall, directly or indirectly, acquire or hold more than five per cent in the paid up equity capital of a recognized stock exchange."



BSE has set itself a deadline of May 2007 to reduce the stake held by brokers by offering 26% to strategic investors and another 25% through an IPO.

 

sti at 2680 sgx's fair value's was estimated as 4.40...now sti 3020 shouldn't prc be ard 4.96? still think 5.60 today is high with sti at 3020.

 

Look at SGX grow!

I remember the times when SGX was just around $2

 

On possible slow uptrend now.

 

Published December 27, 2006
 
S'pore equity capital market hits new high
Value of deals tops $14b this year, a near doubling of the amount in 2005

By CONRAD TAN


(SINGAPORE) Activity in Singapore's equity capital market has hit a record high this year, driven by new listings and stock placements that were substantially larger than those in 2005.

Beer takes the cake: Thai Beverage's listing raised $1.57 billion
A whopping $14.04 billion worth of share deals - comprising initial public offerings (IPOs), new share issues and large, block sales of stocks listed on the Singapore Exchange (SGX) - were struck during the year, nearly twice the $7.39 billion worth of deals recorded in 2005.

The typical deal size also rose significantly. Of the 92 deals completed during the year, 35 exceeded $100 million in size, compared to just 17 in 2005. And of these 35 deals, 15 were worth at least $300 million, up from eight last year.

Some $7.56 billion in share capital was raised through IPOs during the year.

There were fewer company flotations - 58 compared to 65 the previous year - but the amount of IPO capital raised was nearly double the $4 billion in 2005. The largest IPO was by brewer Thai Beverage, which raised $1.57 billion in May.

Among the new listings, 22 raised at least $100 million, compared to eight in 2005. Of these 22, nine raised $300 million or more, up from just three in 2005. There were also fewer IPOs on Sesdaq - 11, compared to 19 in 2005.

Companies riding on China's rapid economic growth continued to drive new listings on SGX. Thirty-two of the IPOs this year - more than half of all IPOs - were from companies based in mainland China or Hong Kong or which earned more than half of their most recent full-year revenue there, a slight increase from 30 in 2005. These 32 IPOs raised $2.16 billion through SGX - a sharp increase from the $839 million raised by such IPOs in 2005.

Among the more unusual new listings this year was an investment fund managed by Babcock & Brown Group, Australia's second-largest investment bank. The Babcock & Brown Structured Finance Fund made its debut on SGX earlier this week, raising $381 million - making it the third largest IPO this year.

The fund aims to invest in operating lease assets in the transportation industry, loan portfolio and securitisation assets, and 'alternative' assets such as music copyrights and the biofuels industry.

The fourth quarter saw a renewed flurry of share offers, as companies and large shareholders rushed to take advantage of a recovery in the stock market to raise fresh capital or unload their shares.

The benchmark Straits Times Index (STI) rose 11 per cent between mid-June - when the stock market was at its lowest point for the year after the sharp crash in May - and the end of September. Since the start of October, the STI has gained another 12 per cent in value.

Among the listed companies which issued new shares during the fourth quarter was nylon fibre manufacturer China Sky Chemical Fibre Co, which raised $109 million from a share placement in November to help fund the expansion of its manufacturing facilities in China's Fujian province.

Another large new share issue in the fourth quarter was by Suntec Reit, which raised $180 million to fund fresh acquisitions.

Overall, equity capital deal volume for the three months to December was $3.61 billion, 31 per cent higher than in the previous quarter and 66 per cent up from the same period in 2005.

The largest deal in the fourth quarter was a block sale of US$511 million worth of shares in property group Hongkong Land by an unidentified institutional shareholder to a group of investors in October. The private placement, worth S$812 million based on exchange rates at the time, was the third largest share deal of the year and the second largest share placement after Temasek Holdings' $2 billion sale of SingTel shares in March.

Market watchers now expect companies to sit out the first few weeks of the new year to see how regional bourses perform in the wake of currency control measures announced by the Thai central bank this week, before deciding whether to raise fresh share capital.

The stock market here may even benefit in the short term, if foreign funds looking to stay invested in Asian stocks seek safer ground, said one equity analyst.

'Singapore will be seen as a less risky market and might actually attract more of the Asian fund flows than peripheral markets,' said Kevin Scully, managing director of NetResearch Asia.