AMTD Digital will be the first company to list concurrently on SGX and Nasdaq, following an agreement signed between both exchanges on July 21. Under the agreement, the relevant processes for companies seeking to list on both markets have been streamlined.
AMTD Group, which earlier this year saw the listing of its subsidiary AMTD International on the Singapore Exchange, is set for another Singapore listing before the year ends. The Hong Kong-based financial services company will concurrently list shares of AMTD Digital, its digital solutions arm, primarily on Nasdaq and secondarily on SGX, raising around US$500 million ($681 million), The Edge Singapore understands.
AMTD Digital is engaged in digital financial services, digital marketing and data intelligence, digital connectors and ecosystem building, and digital investments. Under Calvin Choi, chairman and CEO of AMTD Group, the Singapore-headquartered AMTD Digital has been acquiring controlling stakes in a string of FinTech companies here over the past few months. This includes insurance technology company PolicyPal; private market and digital assets exchange CapBridge Financial; and one-stop QR code and digital payment solution provider in Southeast Asia, FOMO Pay.
