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SINGAPORE: The Singapore Exchange (SGX) has signed an agreement with the Fujian provincial government in China to promote listings of Fujian companies on the SGX.
Under the agreement, the Fujian Development and Reform Commission Office will provide guidance to potential listing aspirants and assist SGX in its supervision of Fujian-listed companies upon request.
It will also facilitate the regulatory processes and approvals from relevant Chinese authorities where needed.
In a statement, SGX said the Fujian province is a fast developing region in China. It has attracted seven new listings from the region this year.
Currently, there are 21 Fujian companies listed on SGX with a total market capitalisation of S$4.2 billion.
SGX said the move demonstrated its commitment to the China market. It will also enable SGX to reach out to more Fujian companies seeking overseas funds and improve regulatory oversight post-IPO.
- CNA/so
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