Singapore Exchange (SGX) - A Primer On SPACs
- We looked at SPAC regulations round the globe and found that SGX’s rules are largely aligned with the US’s, and less rigid than HKEX’s.
- Redemption rights and detachable warrants in Singapore are similar with the US. In Hongkong, only professional investors allowed to invest in SPAC until it has merged.
- Media reports of potential SPAC sponsors (Tikehau Capital, Vertex Holdings, Novo Tellus) hint of tech-related or new economy listings on SGX.
- Upgrade SGX (SGX:S68) to ADD. We believe progressive SPAC listings may lift the valuations of the broader Singapore market.
- Re-rating catalyst: stronger trading volumes.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
Andrea CHOONG CGS-CIMB Research | William TNG CFA CGS-CIMB Research | https://www.cgs-cimb.com 2021-12-09 2021-12-09
Previous report by CGS-CIMB:
2021-09-03 Singapore Exchange - A SPAC-tacular Initiative
Target prices by 3 other brokers at SGX Target Prices.
Listing of broker reports at SGX Analyst Report.
SGX Share Price History,
SGX Dividends & Corp Actions,
SGX News Articles