Catalist is a vibrant and dynamic market in Asia for fast-growing companies. Our vision for Catalist is to be Asia's leading fund raising platform for fast-growing companies.
Catalist embodies the following values:-
Quality - Catalist aims to maintain quality standards through strict admission criteria and continuing obligations for Sponsors. Sponsors in turn are obligated to exercise judgment and undertake due diligence in sponsoring companies. Catalist companies are required to comply with rules on disclosure, subsequent fund raising, corporate transactions, corporate governance and periodic reporting.
Growth - Catalist provides a scalable model for market growth, allowing us to welcome companies from any part of the world and attract fast-growing companies that are on an expansion path.
Responsiveness - Catalist is designed to allow for faster time-to-market and greater flexibility. Companies are able to respond to business opportunities quickly, as subsequent fund raising and acquisitions/disposals can be undertaken more easily.
Pioneering - Catalist aims to attract fast-growing companies in new sectors and industries. Some companies may be in their earlier stage of development. Investors should be of the appropriate risk profile and be aware of the risk-reward balance when investing in growth companies with limited track record. Please refer to the Investor Education pages here
Key Features Of Catalist
The key feature of Catalist is its "Sponsor-supervised" market model. Companies on Catalist are brought to list by approved Sponsors. There are no quantitative entry criteria required by SGX. Instead, Sponsors decide if the listing applicant is suitable to be listed.
To remain listed after IPO, companies must engage a Sponsor at all times. Sponsors are to advise listed companies on rule compliance, review their public documents and whistleblow to SGX when there is an affirmed or suspected rule breach.
Catalist companies enjoy faster and more certain time-to-market. In addition, the Offer Document is lodged only on SGXs website called "Catalodge". After IPO, Catalist companies are able to obtain larger mandates for subsequent fund raising and need only seek shareholders approval for significantly large acquisitions and disposals.
Catalist operates on SGX's established trading and clearing infrastructure. All investors will be able to trade Catalist shares through their SGX-ST Members, using their existing trading and securities accounts.
Value Proposition To Key Market Participants
Catalist is designed to offer an attractive value proposition to all key market participants.
Catalist & Its Predecessor SESDAQ
Established in 1987, SESDAQ has largely fulfilled its purpose of meeting the fund raising needs of local small and medium enterprises (SMEs). The transformation into Catalist serves to expand its relevance to international companies from a diversified range of sectors, fueling further growth in the long-term.
With more quality issuers and intermediaries attracted to the market, it would foster greater growth and development in the market. This would benefit all market participants, including existing SESDAQ companies, who can take advantage of the more flexible rules and improved profiling of the market.
SESDAQ companies will have a minimum of 2 years from the time when the first batch of Sponsors is announced ("transition period"), to comply with the new Catalist rules. This mainly involves SESDAQ companies engaging a Sponsor to continually sponsor them. If they are unable to do so by the end of the transition period, they will face delisting. Meanwhile, SGX will continue to regulate and supervise them. They will be called "Catalist Non-Sponsored" counters.
During the transition period, there will be 2 types of companies on Catalist:-
Catalist stocks under the new Sponsor-supervised regulation; and
Catalist Non-Sponsored stocks under the existing Exchange-supervised regulation.
The live prices pages on the SGX website will have indicators denoting the counters that are Catalist and Catalist Non-Sponsored. Catalist web pages will also list the Catalist counters and their respective Sponsors. Please see Investor Toolkit pages for more information here.
