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The Singapore Exchange and Infocomm Media Development Authority of Singapore inks MOI for accredited companies to access capital markets

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By Benjamin Cher, Reporter

May 31, 2017 | 3 min read

The Singapore Exchange (SGX), the stock exchange of Singapore and The Infocomm Media Development Authority of Singapore (IMDA) have inked a memorandum of intent to streamline access to capital markets for IMDA-accredited companies.

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IMDA and SGX ink MOI to ease access for accredited companies

This MOI will see lowered barriers for accredited technology and media companies to access capital markets, catalysing more high-tech initial public offerings and increase Singapore as an attractive venue for capital raising.

The Accreditation@IMDA programme, which curates and nurtures promising innovative tech companies, will partner SGX in identifying and galvanising the financial ecosystem to support the accredited companies in their IPO journey.

“Today’s collaboration between IMDA and SGX will provide high-growth Infocomm Media (ICM) companies access to capital markets, allowing them to leverage Singapore’s well-developed financial ecosystem to support their growth and expansion plans. I encourage ICM companies with innovative products and services to set up their base of operations in Singapore so that they can take full advantage of these programmes and platforms,” said Dr Yaacob Ibrahim, minister for communications and information.

“Our collaboration with IMDA will foster a keener appreciation among Singapore technology firms of our capital markets as a source of funding, and offer them the potential of expanding their business into the broader region. We hope to galvanise more partners in the financial ecosystem to engage with these fast growing, innovative companies,” said Loh Boon Chye, chief executive officer, SGX.

“There are immense opportunities in the coming years for Singapore-based ICM companies as economies in the region transform and digitalise. The partnership between SGX and IMDA is an important step in deepening the collaboration between the technology and financial ecosystems, and enables both groups to benefit from this rapid growth. It also enables promising ICM companies to tap Singapore’s capital markets to scale up to the next phase of their growth,” said Tan Kiat How, chief executive, IMDA.

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