Chapter 3: Getting Listed Flashcards
(58 cards)
Listing requirements applicable to all issuers, Singaporean and elsewhere
T
issuer, mkt <300M, spread?
at least 25% post invitation shares has to be in the hands of at least 500 shareholders
issuer, mkt 300M
at least 20% post invitation shares has to be in the hands of at least 500 shareholders
issuer, mkt 300M
at least 15% post invitation shares has to be in the hands of at least 1000 shareholders
for an invt fund, must not invest more than ____% of companies related to the invt’s substaintial shareholder
10%
issuer whose equities not listed, issue of local debt securities: min principal_____, at least ___% subscribers are institutional
750k, 80
exception to trust deed requirements avail to specific inevestors: min board lot size of___
200,000
investment fund deno in S$, at least size__, __% avail must be held by ast least ___ shareholders
20M, 25, 500
min IPO share
$0.2
issuer whose equities listed, min principal amt ___
750k
in case of share placement, the issue must not be priced at more than 10% discount to the___
weighted average price
Moratorium Requirements for Promoters
Profit test: Promoters’ 100% shareholdings
at the time of listing for at least
6 months after listing
Mkt test: Promoters’ 100% shareholdings at the time of listing for at least 6
months after listing, and at least 50% of original shareholdings at
time of listing (adjusted for any bonus issue or subdivision) for the
next 6 months
promoters are
controlling shareholders and associates
exec directors with an interest in 5% or more of the issued share capital at the time of listing
3.3.4.6 Moratorium Requirements for Pre-IPO Investors
n investor with 5% or more of the issuer’s post-invitation issued share capital who had acquired and
paid for his shares less than 12 months before the date of the listing application, will be subject to a
moratorium for six months after listing.67 Such an investor with less than 5% of the issuer’s post-invitation
issued share capital is permitted to sell an unrestricted number of shares in the IPO but his remaining shareholding will be subject to a similar moratorium. The moratorium period for pre-IPO investors (unlike
in the Mainboard Rules, no distinction is made under the Catalist Rules for those holding less than 5%, or
5% or more of the issuer’s post-invitation issued share capital) of an issuer listed on Catalist is 12 months
after listing.
minimum IPO price for mainboard
0.5
min IPO price for Catalis
0.2
for main board listing, if offer size is $75M < x <120M,
20% of invitation share bmust be distructured and each alloted not mroe than 0.4%
existing
shareholders must not be more than _% of the total number of issued shares (excluding treasury shares).
20
general mandate for the issuance of equity securities must limit the aggregate number of equity securities thatmay be issued to not more than ___% of the total number of issued shares
50
shareholding spread of mkt > b
12% -500 shareholders (always 500
A listed company incorporated outside Singapore must submit
OIS -Offer Information Statement
When MAS can’t stop an order
when it started trading
how much time can an applicant withdraw his application to MAs
7 days
When the supplementary doc is lodged with MAS, the person making the offer must notify investors within_days
7
