Prospective Sponsors must fulfill the minimum eligibility criteria in order to be considered for admission. Fulfillment of the criteria does not mean automatic admission.
The table below summarizes the eligibility criteria for Full Sponsors and Continuing Sponsors, which are in addition to any legal and regulatory requirements. Approved Sponsors must continue to meet these eligibility criteria at all times, in order to qualify as a Sponsor.
Full Sponsors
Continuing Sponsors
Be a corporate with minimum base capital requirement of S$500,000 and sufficient professional indemnity insurance to cover its proposed Sponsor activities;
Establish and operate out of a physical office in Singapore;
Have officers and directors who are fit and proper;
Have experience as a Lead Issue Manager;
Have a satisfactory reputation and work record in all places;
Not be in breach of any relevant rule or law;
Have sufficient skill and resources, including employing a minimum of 3 Registered Professionals (RPs), where:-
At least 1 has a minimum of 10 years' experience in corporate finance advisory work or related advisory work, and has advised in a managerial or supervisory capacity on at least 5 listings in the 10 years prior to the application; AND
At least 2 have a minimum of 5 years' experience in corporate finance advisory work or related advisory work, and 1 of these RPs has advised on at least 3 listings in the 5 years prior to the application.
Once authorized, be independent and have no conflicts of interest with the entities it sponsors.
Be a corporate with minimum base capital requirement of S$250,000 and sufficient professional indemnity insurance to cover its proposed Sponsor activities;
Establish and operate out of a physical office in Singapore;
Have officers and directors who are fit and proper;
Have experience in corporate finance or compliance advisory work;
Have a satisfactory reputation and work record in all places;
Not be in breach of any relevant rule or law;
Have sufficient skill and resources, including employing a minimum of 2 Registered Professionals (RPs), where:-
At least 1 has a minimum of 5 years' experience in corporate finance advisory work or related advisory work in a managerial or supervisory capacity; AND
At least 1 has a minimum of 5 years' experience in corporate finance advisory work or accounting or finance work.
Once authorized, be independent and have no conflicts of interest with the entities it sponsors.
In assessing the suitability of a Sponsor for admission, SGX may seek an opinion from an advisory panel which comprises experienced industry practitioners.
Advisory Panel
Ms Christina Ong, Partner, Allen & Gledhill Advocates & Solicitors
Mr Daniel Ee, Chairman, Tiger Aviation Pte Ltd
Mr Gary Pryke, Senior Partner, Drew & Napier LLC
Mr Goh Yew Lin, Executive Director, GK Goh Holdings
Mr Phillip Tan, Director, EQ Insurance Co Ltd
Mr Robert Tomlin, Vice Chairman-Asia, UBS AG
Mr Victor Liew, Adviser, Fullerton Fund Mgt Co Ltd
The rules also contain requirements governing the Registered Professionals of Sponsors, as it is equally important for the individuals performing Sponsor work to possess relevant expertise and experience. Therefore, SGX will similarly admit and regulate such Registered Professionals based on a set of criteria.
The Sponsor admission documents and procedures can be found in the attachment here.
Rules for Sponsors – Full details of the admission and continuing requirements for Sponsors are in the Catalist rules, which can be found here.
For enquiries, please contact us for a preliminary discussion.
