AEM Holdings has on Dec 23 received clearance from the Singapore Exchange Securities Trading (SGX-ST) for the trading of AEM shares in US dollars (USD), in addition to Singapore dollars (SGD), with effect from 9am on Jan 4, 2022.
With the implementation of dual currency trading of AEM’s shares, the company will have a USD counter in addition to its existing SGD counter and investors will be able to buy or sell AEM shares through either counter given the fungibility of shares between the two counters.
Investors will be able to trade in the new USD counter for AEM shares in the same manner as trading for any other counters on the SGX-ST and investors can utilise their existing securities accounts and trading accounts with the Central Depository.
“We firmly believe that the implementation of dual currency trading would enhance the attractiveness of AEM for existing and potential investors," says Chandran Nair, CEO of AEM.
"Over the years, AEM’s shareholding has diversified significantly with many foreign investors and funds being part of the shareholder list now. Thus, this initiative of dual currency trading for AEM provides greater flexibility and convenience to investors keen to invest in AEM shares in SGD or USD. It also gives foreign investors more assurance when participating in AEMs shareholding as they can invest in the USD counter without being concerned with exchange rate fluctuations or incurring charges during currency conversion," he adds.
As at 2.55pm, AEM shares were trading up 5 cents or 0.98% higher at $5.14.
