Japan Exchange to sell its 4.95% stake in SGX over three years

Japan Exchange to sell its 4.95% stake in SGX over three years

The SGX Centre at Shenton Way. Credit: DealStreetAsia

Japan Exchange Group (JPX), the operator of the Tokyo Stock Exchange has announced that it will sell its entire 4.95% stake in Singapore Exchange (SGX) progressively over a period of about three years.

The decision to divest its shares in SGX, believed to be worth about 32 billion yen ($301 million), is JPX response to a government Corporate Governance Code which discourages listed companies from holding shares for purposes other than pure investment.

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