SINGAPORE (Apr 8): AMTD International has on April 8 become the first company with dual-class shares to list on the SGX. The company, which is already listed on the New York Stock Exchange, is a subsidiary of Hong Kong-based AMTD Group Company Limited.
It bills itself as a leading Asia-based comprehensive financial services conglomerate, with services ranging from investment banking, asset management and strategic investment.
Even before this listing, AMTD has been making its presence felt in Singapore. It has teamed up with Xiaomi, Funding Societies and SP Group to bid for one of the three wholesale digital banking licenses up for grabs in Singapore.
“AMTD is committed to embracing Southeast Asian capital markets in particular by listing on SGX to connect more capable companies with global investors through Singapore and other Southeast Asian markets,” says Calvin Choi, AMTD International’s chairman and CEO.
“We will leverage on Singapore’s dynamic capital market, energetic new economy sectors and diverse talent pool to create supreme connectivity between Singapore, Southeast Asia, the Greater Bay Area and the rest of China,” he adds.
Chew Sutat, Head of Global Sales and Origination, SGX, notes that AMTD is showing its long-term commitment in Singapore.
Besides the DCS listing, AMTD has set up a US$1 billion medium term note programme. In addition, the company was in a joint venture, to buy the hotel and serviced residence component of OUE Downtown for $289 million, from OUE.
“We look forward to working with AMTD International, its stakeholders and partners to further promote the regional capital markets and connect more companies and investors in Asia and beyond,” says Chew.
Due to the restrictions as a result of the Covid-19 outbreak, in place of a traditional opening gong ceremony at SGX, AMTD made its debut via a “digital listing” instead. Choi was in Hong Kong while Chew, representing SGX, was in Singapore. A picture of this moment was taken by Simon Lim, chief representative, SGX Hong Kong.
AMTD shares, quoted on SGX, opened at $13.95. It closed at $16.
