Singapore Exchange Limited (SGX) and Agricultural Bank of China (ABC) today signed a Memorandum of Understanding (MOU) to establish the first formal co-operation to promote listings on SGX.
Under this MOU, both parties will form a channel of information exchange on listings matters. The key objective is to promote SGX as the Asian listing platform to Chinese companies through ABC's established network in China, including organising seminars on listing requirements for these companies.
Mr Hsieh Fu Hua, Chief Executive Officer of SGX said, "The collaboration with Agricultural Bank of China (ABC) underscores SGX's continuing commitment to the China market. The agreement enables SGX to leverage ABC's extensive branch network and reach a wider audience of companies seeking to raise international funds efficiently. It complements our strategy to promote SGX as the Asian listing hub for China companies."
Mr. Yang Kun, Senior Executive Vice-President of ABC said, "The signing of the strategic co-operation memorandum with SGX will definitely push our already strong working relationship to a new height. This is not only a very important occasion for us at Agricultural Bank of China, it also represents an important milestone for both parties to further enhance our co-operation. Most importantly, our co-operation will bring more delightful experience, higher value-add and better service to our customers. As a result, allow me to reiterate that today's ceremony is not just a" winwin" situation for SGX and our Bank, it is also a "triple-win" victory for SGX, Agricultural Bank of China and our customers."