SGX partners Third500 to court US late-stage, venture-backed listings

A logo of the Singapore Stock Exchange (SGX) is pictured outside its premises in the financial district of Singapore April 23, 2014. REUTERS/Edgar Su/Files

The Singapore Stock Exchange (SGX) is teaming up with Third500, an affiliate of US healthcare investment bank Healthios Capital, to court US late-stage, venture-backed companies looking to list in the city-state.

According to an official statement, SGX and Third500 will develop a market development plan to build a pre-IPO and IPO market to encourage more companies to list in the country. This is one of several moves SGX has taken to deepen its IPO pipeline.

In June, SGX approved dual-class shares, allowing it to better compete with Hong Kong Exchange (HKex) which is increasingly seen as an attractive destination for listings in Asia. SGX has also been forging closer links with foreign exchanges such as NASDAQ and Tel Aviv Stock Exchange (TASE) to deepen its IPO pipeline.

The SGX – Third500 partnership will target later-stage, venture-backed companies looking for exposure to the region. The potential companies involved will mainly be US healthcare and medtech companies, but may also cover telecom, media, energy, technology and consumer discretionary industries from other markets.

Mohamed Nasser Ismail, Head of Equity Capital Market (SME) and Head of Capital Market Development, SGX, said, “Third500 and Healthios focus on the issuers we are seeking and have a strong presence in Singapore. Their thoughtful pathway generates quality issuers which have Asian institutional investors and commercial strategies with a convertible linked to an SGX listing. This pathway has the potential to drive many listings to SGX, while serving the needs of issuers and investors.”

In May, SGX and TASE said they were ‘proactively engaging’ tech and healthcare firms to list on both their exchanges.

A strong IPO pipeline of companies is expected on the SGX this year, according to a Business Times article. The SGX expects sectors like pharmaceutical, medical services and US REITs to rake in strong listings.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.