The Monetary Authority of Singapore will launch a S$75 million Grant for Equity Market Singapore to fulfil Singapore's vision to serve as Asia's centre for capital raising and enterprise financing.
The Monetary Authority of Singapore (MAS) announced on Monday the Grant for Equity Market Singapore (GEMS) to boost Singapore's standing as Asia's centre for capital raising and enterprise financing.
«Singapore has been working to enhance our private and public markets so that domestic and international growth enterprises are able to access different types of capital best suited to their needs,» said Ng Yao Loong, Assistant Managing Director at MAS in a media statement.
The three-year initiative, announced by minister for finance Heng Swee Keat at the UBS Wealth Conference on Monday aims to help enterprises who are seeking to raise capital through Singapore’s equity market, plus boost the research ecosystem.
Three components
GEMS will have three components; the first component is a listing grant to help defray initial public offering (IPO) costs for companies seeking a listing on the Singapore Exchange (SGX).
The second component is a research talent development grant to enhance Singapore’s research coverage by grooming equity research talent. The third component is a research initiatives grant to support crowd-sourced initiatives to boost Singapore’s equity research ecosystem.
GEMS, which is funded under the Financial Sector Development Fund (FSDF), will take effect from 14 Feb 2019. MAS will release more details closer to the date.
