Singapore Exchange (SGX) is currently in negotiations with potential partners to spin off SGX Bond Trading Pte Ltd into a joint venture. The new company will operate an Asian bond trading platform.
According to company secretary Ding Hui Yun, negotiations have reached advanced stages. Nevertheless, Ding warned that there is currently no assurance that the transaction will be entered into or consummated.
This is not SGX's first joint venture-related announcement this year. On 22 January, it announced a joint venture with Temasek to set up the Asia-Pacific’s first exchange-led digital asset venture focused on capital markets workflows through smart contracts, ledger and tokenisation technologies.
“If completed, we do not expect the transaction to have a material impact in the current financial year on SGX’s financial results,” Ding assures markets in a company announcement on 1 February. She assures investors that SGX will promptly make all appropriate public disclosures should any material developments take place.
As of 4.28pm, SGX is currently trading at $9.90 with a P/E ratio of 21.36 and dividend yield of 3.18%.
