Singapore Exchange (SGX) chief executive Magnus Bocker has pledged his commitment to eventually do away with board lots, and has spoken up for retail participation and sustainability as he outlined strategies to address lacklustre markets.
Singapore Exchange (SGX) is forecasting an end to a two-year hiatus for Chinese listings after regulators made it easier for companies from Asia’s biggest economy to sell shares in the city-state.
Short-sellers who profit from stock price declines have resumed targeting Chinese companies after a three-year lull, but many of the researchers who instigate the strategy are now cloaked in anonymity, shielding themselves from angry companies and Beijing’s counter-investigations.
The Singapore Exchange’s (SGX) plan to boost its disciplinary powers to improve the quality of the market is long overdue - coming as it did after debacles such as the penny-stock collapse last year.
A recent report from Greenpeace has found that China’s coal consumption declined in the first half of this year and new Chinese government data suggests that the country’s coal imports have dropped. Estimates indicate that by the end of the year, China’s coal imports could be 8 per cent below 2013 levels.
Earlier this year, a listed company here embarked on a non-underwritten rights issue to raise money for investment and working capital and, presumably to enhance the attractiveness of the offer, its announcements on the rights issue highlighted the fact that the company’s substantial shareholder had given an “irrevocable” undertaking to fully subscribe to its portion.
SGX says it will proceed to set a minimum trading price of 20 cents for mainboard-listed stocks given strong public support for the requirement, in a move aimed at curbing excessive speculation and potential manipulation.
China Cosco Holdings has signed a landmark deal with Brazilian miner Vale for the transport of iron ore and the purchase of 14 very large ore carriers, which have been barred from entering mainland ports since early 2012.
Eratat Lifestyle said on Friday that it has requested for more details on the investigations led by the China Banking Regulatory Commission (CBRC), which last month found a forged bank confirmation linked to the company’s subsidiary.
Blumont Group now holds a 43.08 per cent stake in privately held uranium miner Azarga Resources after converting US$19.1 million worth of convertible notes.
Blumont Group on Thursday said that its all-share bid for all of Australia-listed miner Genesis Resources has been extended because it is missing information from Genesis needed to produce a shareholder circular.
When looking at ways to enhance disclosures in the Singapore stock market, it is often instructive to study practices in other stock exchanges to see if any can be adopted for the local bourse. One useful suggestion came from a BT reader a fortnight ago.
LionGold Corp has delayed a planned acquisition of Australian gold mining and exploration assets for a second time, with the new deadline pushed to the close of Sept 30.
Gold miner LionGold Corp and Blumont Group have issued clarifications in relation to a story carried by The EdgeSingapore and The Edge Malaysia this week on the penny stock crash which took place last October.
The Singapore penny-stock crash of October last year was a painful affair that generated widespread discussion among regulators, stockbrokers and members of the public on what went wrong, how it could have been handled better and how to prevent a recurrence.