SGX finds that while SC has made many satisfactory IPO submissions, there have been a number of instances where SC did not go far enough in its due diligence to resolve critical issues to the standard required of an issue manager. The shortcomings were particularly evident in recent submissions. SC has noted the findings of SGX and undertakes to meet the standards required by SGX in every submission. The Exchange will therefore, continue to accept IPO applications from SC and examine them with our usual rigour.
SGX is not expressing any opinion on the companies that SC has brought to list on SGX. The Exchange reminds issue managers and professional advisors of their pivotal role in the IPO market. IPO submissions must meet SGX listing rules completely. Anything less than this would not fulfil their responsibility to the investing public.
