DBS Preference Shares Debut On SGX

Singapore Exchange (SGX) today announced the debut of the retail tranche of DBS Bank’s 4.70% preference shares callable in 2020 on the Mainboard, under the stock code “MU7”.

“We are excited with the rapid progress of our fixed income market. The addition of this preference share marks yet another development to meet the needs of customers and strengthen SGX’s position as the listing, trading and clearing venue of choice in Asia,” said Ms Tng Kwee Lian, Head of Fixed Income at SGX.

The DBS Preference Shares are perpetual securities with no maturity but are callable in 2020. They pay semi-annual dividends at a rate of 4.70% per annum, subject to certain conditions.

Singapore-headquartered DBS is one of the largest financial services groups in Asia.