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Singapore government announces $1 billion new fund to boost local stock market

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The new fund, to be set up with state investment firm Temasek, will help 'promising high-growth' companies raise capital through public listings in Singapore.

Lee Yen Nee | CNBC

SINGAPORE — The Singapore government on Friday announced a series of initiatives to boost the domestic stock market, including co-investing in a new fund to support "promising high-growth" companies.. It will start with 1.5 billion Singapore dollars to help companies raise capital through public listings — whether primary, secondary or dual — in the Southeast Asian city-state.

The financial regulator, Monetary Authority of Singapore, will increase its grants to help companies defray the cost of listings., will help high-growth companies to raise funds privately prior to a public listing. Earlier this month, the SGX announced new rules to allow the listing of special purpose acquisition companies or SPACs. The move was seen as a way toIn an exclusive interview with CNBC, SGX Chief Executive Loh Boon Chye said there's a "robust pipeline" of potential SPAC listings — and the first could come through in a couple of weeks.Straits Times IndexBut initial public offerings on the Singapore Exchange have been lackluster in comparison.

 

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They should thank CCP for destroying Hong Kong.

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