The Singapore Exchange Limited is the first exchange in Asia-Pacific to be listed via a public offer and private placement. In this post, we’re looking not at the general Singapore stock exchange but at the company itself.

Ever since announcing it’s attempt to buy Australia’s main stock exchange ASX Ltd, SGX Ltd has seen it’s share price drop about 20%. This is primary because at A$48 for each ASX share, SGX Ltd is paying a premium of about 35% to what ASX shares were traded. This acquisition is subjected to the approval of the Australia government. Only yesterday, the first tiny hurdle was cleared. The Australian competition regulator, ACCC, concluded that SGX purchase of ASX would not impede competition. A key focus of ACCC investigation was whether the acquisition of ASX would deter entry into the Australian market of rival Chi-X and other competitors due to SGX’s links with ......