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.
