Started in April 2001 to ensure that SGX's listing rules meet changing needs and reflect current market practices, the review of the listing manual is now in its consultation stage. The proposed changes, which are set out in a Consultation Paper, include key amendments to the following areas in the Listing Manual:
- Initial shareholding spread and public float requirements
- Distribution guidelines
- Moratorium rules
- Disclosure of subscription of IPO shares by parties associated with the offering
- Listing procedures
- Covered warrants requirements
- Prospectus disclosure requirements
- Disclosure of financial information in IPO prospectuses
- Continuous disclosure
- Interested person transactions
- Circular and Annual Report
- Suspension and Delisting
"The consultation draft represents a significant improvement in readability and modernisation and has been crafted following helpful input from market practitioners and members of the public. All areas of the Listing Manual have been carefully scrutinized to ensure they reflect current practices. We are now inviting market participants, investors and listed companies to review the manual before we finalise these amendments", said Alan Shaw, Executive Vice President and Head of the Risk Management and Regulation Division of SGX.
The Consultation Paper and the draft revised Listing Manual will be available on the Exchange's website at www.sgx.com from 27 August 2001 onwards. Market participants and members of the public are invited to give their comments and suggestions on the proposed changes between 27 August to 14 September 2001 via:
Email: lm@sgx.com
Fax: (65) 535-1475
Mail: Listing Manual Review, Issuer Regulation
Singapore Exchange Limited
20 Cecil Street, #26-01/08
Singapore Exchange
Singapore 049705
