Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

Singapore Exchange Limited To Revise Listing And Depository Fees From 1 March 2003

Date 02/01/2003

Singapore Exchange Limited (SGX) announced on December 27 that it will revise its fees for listing and depository services to listed companies with effect from 1 March 2003.

The last revisions to the listing and depository fees were made in 1984 and 1990 respectively. Since then, there have been increasing costs of maintaining and enhancing the level of service to listed companies, which are not reflected in the current fees.

The revised fees will better reflect the costs of providing quality listing and depository services. In its year-long review, the exchange has taken into consideration the practices of other markets. For instance, the new listing fee structure will be based on market value of a share, instead of the current practice of using nominal value. As for SGX's depository services to listed companies, only the fees for processing initial public offers, rights, shareholding reports and takeover offers will be revised.

Despite the revision, SGX's fees remain highly competitive for listed companies seeking to raise capital.