Singapore Stock Exchange (SGX) has opened its liaison office in India which will act as a communication channel to support capital raising by Indian companies in Singapore, according to a statement. The exchange has commenced operations with Neena Prasad as its chief representative.
Prasad had joined SGX in late 2011 as senior vice president and head of listings (India). Prior to joining SGX, she was with Morgan Stanley in New Delhi. She has experience in the private and investment banking industry in India with global financial institutions, including GE Capital, Salomon Smith Barney/Citigroup and Bank of America.
"Our India office will enable us to better support Indian enterprises seeking to raise capital," Magnus Bocker, CEO of SGX, said. Such capital raising by the Indian companies can be done via listing of stocks, bonds, Real Estate Investment Trusts (REITs), business trusts and/or depository receipts.
The office in India will also help SGX strengthen its strategic partnership with the local bourse National Stock Exchange. The two exchanges had joined hands in 2000 to develop the international future markets. SGX had also acquired 5 per cent equity stake in Bombay Stock Exchange (BSE) in 2007.
"We will continue to strengthen our partnership with NSE as we grow the Nifty franchise internationally. As a stakeholder in BSE, we will support the exchange by bringing efficiency with new initiatives and IPOs,” Bocker added.
India is the third-largest issuer of SGX-listed bonds having raised $60 billion to date. About 80 per cent of listed international bonds by Indian issuers are listed on SGX. Also, five Indian companies are listed on SGX.
(Edited by Joby Puthuparampil Johnson)