Singapore Exchange

Lum Yong Teng

Servicing Foreign Listings on the Singapore Exchange

23 August 2018

SGX is the Most International Exchange

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Nearly 40% of all companies listed on SGX are overseas companies

UK81%

Non-UK

19%

London Stock Exchange

US78%

Non-US

22%

New York Stock Exchange

China 94%

Non-China

6%

Hong Kong Stock Exchange

Japan99.8%

Non-Japan0.2%

Tokyo Stock Exchange

US86%

Non-US

14%

NASDAQ

Singapore 64%

Non-Singapore

36%

Source: World Federation of Exchanges (Apr 2018), Companies’ Website and Singapore Exchange (May 2018)

Singapore Exchange745 Listed CompaniesMarket Capitalization

US$767 billion

China40%

Hong Kong14%

Taiwan4%

Japan & Korea4%

Australia4%

Europe & US5%

Southeast Asia28%

India1%

Consumer20%

Energy7%

Financials 4%

Healthcare4%

Industrials30%

IT9%

Materials7%

Real Estate14%

Telecomms1%

Utilities1%

Diversity of Industries on SGX

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Consumer15%

Energy0%

Financials31%

Healthcare6%

Industrials21%

IT1%

Materials1%

Real Estate18%

Telecomms6%

Utilities1%

Note: Companies without GICs Sector Classification not included

Breakdown by Market Capitalisation

US$767 billion in total

Breakdown by Number of Companies

745 companies in total

Source: Singapore Exchange & Bloomberg (May 2018)

Top Sectors on SGX

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Source: Bloomberg & Singapore Exchange (May 2018)

Includes information & communications technology, medical technology and financial technology

73 companies with market cap of US$57 billion

Asia’s largest cluster of listed companies

60 companies and 2 business trusts with market cap of US$25.4 billion

Technology

Maritime & OffshoreServices

Includes agri-commodities, food & beverage and retail

151 companies with market cap of US$104 billion

Full range of companies from pharmaceuticals, healthcare services to medical devices technology

35 companies, 2 REITs and 1 Trust with market cap of US$49 billion

Companies in exploration, development and production of mineral or oil & gas

29 companies with market cap of US$1.9 billion

Consumer Healthcare

Mineral, Oil and Gas

Asia’s broadest range of real estate companies and property trusts covering global real estate assets

109 real estate companies and property trusts with market cap of US$137 billion

Real Estate

SGX Connectivity to Asia + Rest of World

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US$350bn, ~50% of total market cap, of international companies listed on SGX

US, UK, Europe, South Asia + ANZ

25 Listed CompaniesMarket Cap: US$98 billion

Frasers Logistics & Industrial Trust, Manulife REIT, Lonza,

Prudential

North Asia

163 Listed CompaniesMarket Cap: US$176 billion

SOE: CAO, China Everbright, POE: Yangzijang, Hutchison Ports

South East Asia

74 Listed CompaniesMarket Cap: US$76 billion

Top regional companies have listed on SGX: Thai Bev, IHH

Healthcare, Wilmar, Lippo REIT, Jardine C&C, Yoma

Source: Singapore Exchange and Bloomberg (May 2018), World Bank, ADB

Prominent Secondary Listings on SGX

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• Secondary listing helps towards building a stronger Asian profile with exposure to global investor base

Source: Singapore Exchange (May 2018)

99% of trading occurs on SGX, due

to Asian brand recognition

CompanyPrincipal Country of

BusinessMarket Capitalisation

(US$ million)Primary Listing

Venue

Prudential United Kingdom 66,608 LSE

Jardine Matheson Hong Kong 45,971 LSE

Jardine Strategic Hong Kong 39,661 LSE

Hong Kong Land Hong Kong 17,058 LSE

Dairy Farm International Hong Kong 11,389 LSE

Lonza Switzerland 20,110 SIX Swiss Exchange

IHH Healthcare Malaysia 12,272 Bursa Malaysia

Shangri-la Asia Hong Kong 7,190 HKEx

Ausnet Services Australia 4,408 ASX

Alibaba Pictures Group Hong Kong 3,475 HKEx

Top Glove Corporation Malaysia 3,346 Bursa Malaysia

Fortune REIT Hong Kong 2,309 HKEx

SGX is Asia’s Gateway to Capital

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Singapore offers a diverse range of investors, with 80% of its AUM derived from outside Singapore

Source: Singapore Exchange (May 2018), MAS Annual Report (2015/2016)

242,000 South East Asian (excl. Singapore) citizens have custodian accounts with CDP

20,000 Indian citizens have custodian accounts with CDP

Global Investors Chinese Investors

South & South East Asian Investors

QDII funds can invest in Singapore (e.g. ChinaAMC Global Selective Fund, China International Fund Management, ICBC Credit Suisse Asset Management)

Alibaba, Bosera, CIC, Sinochem, Petrochina, Huaneng are investors in Singapore equities

33,000 Chinese citizens have custodian accounts with CDP

Asia Pacific54%

Europe & N. America

37%

Others9%

Source of Singapore’s Foreign AUM Aberdeen Asset Management

Blackrock Asset Management

Blackrock Fund Management

Credit Suisse Asset Management

Deutsche Asset Management

Fidelity International

Invesco Asset Management

JP Morgan

Legg Mason Global

Morgan Stanley Investment Management

Prudential Financial

Schroder Investment Management

UBS Strategy Fund Management

Active Retail Investors’ Participation

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Singapore retail investors can subscribe for IPOs via more than 2,000 ATMs

Source: Company announcements

CompanyAmount Raised

(US$ million)Public Offer Size

(US$ million)

Retail Subscription Rate

(public offer only)

Retail SubscriptionAmount

(US$ million)

SPH REIT 554 328 25x 8,200

OUE Hospitality Trust 600 382 19x 7,258

Mapletree Industrial Trust 655 76 28x 2,108

Global Logistic Properties 2,111 154 11x 1,689

Mindchamps 37 1 83x 102

APAC Realty 43 2 29x 62

No Signboard Holdings 26 0.5 269x 134

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Available CurrenciesFlexibility to InvestorsFull Fungibility

Dual Currency Trading in 6 CurrenciesAccess a wider pool of investors with the option of an additional currency

Investors have flexibility to trade in preferred currency based on needs and their currency outlook with efficient clearing and settlement process in place

SGD USD HKD RMB AUD EUR

No split pool of shares by currency denomination

Shares can be traded seamlessly between 2 different currencies without the need to move from one counter or pool to another

SGXNet – Corporate Actions & News PortalGateway to Issuer Services

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SGX.COM(Public)

SWIFT(Custodian Banks)

SGXNews(Data Vendors)

SGX MembersSurveillance

Reports

SGX Post Trade Systems

Asset Servicing

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- Bridging Issuers and Investors together

SGXNet

SGXBanks

AndMarket Participants

Single Touch Point ATMs, Internet, Phones, Forms

Submission of Announcement

Submission of Instruction

Dissemination &

Processing

Issuers Investors

• 1.58 million direct investors

• 55 Depository Agents (DAs) with 260,000 sub-accounts investors

• 745 listed companies • 100+ product issuers

Types of Corporate Actions

Mandatory Mandatory with Choice Voluntary

• Participation is mandatory • Participation is mandatory • Participation is voluntary

• All shareholders are entitled to dividends and no action is required to receive them

• Shareholders may or may not submit their elections Default option will be

applied if election is not submitted

• Shareholders are given a chance to choose among several options

• Shareholders who wish to participate must submit their election/applications

Examples• Cash Dividend• Bonus issue• Stock Split• Share consolidation

Examples• Cash/ Scrip Dividend

Option• Currency Election

Examples• Rights Issue• Cash Offer

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sgx.com

Thank you

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