Asset Acquisitions and Disposals::BSE Limited's Initial Public Offer

Issuer & Securities

Issuer/ Manager
SINGAPORE EXCHANGE LIMITED
Securities
SINGAPORE EXCHANGE LIMITED - SG1J26887955 - S68
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
19-Jan-2017 17:07:06
Status
New
Announcement Sub Title
BSE Limited's Initial Public Offer
Announcement Reference
SG170119OTHR8ESK
Submitted By (Co./ Ind. Name)
Ding Hui Yun
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
BSE LIMITED'S INITIAL PUBLIC OFFER

BSE Limited (BSE) has announced that application for its initial public offer (IPO) will commence on 23 January 2017 and close on 25 January 2017 with the IPO price band fixed at INR805 to INR806 per share. Singapore Exchange Limited (SGX) has a 4.75% stake in BSE and has tendered these shares for sale in the IPO. Based on the IPO price band, SGX's stake in BSE is valued at $42.8 million to $42.9 million using the exchange rate as at 17 January 2017. Compared to the carrying value of $45 million as at 31 December 2016, this represents an approximate $2 million loss upon disposal of SGX's stake in BSE. This disposal is not expected to have a material effect on the net tangible assets or earnings per share of the SGX group for the current financial year.

SGX's divestment of BSE is in line with our strategy to be more broadly involved in emerging opportunities in India, including partnerships with multiple entities in India. SGX continues to be committed to India-related capital market activities, including trading of the Nifty contract, and capital raising through listing equities and fixed income instruments in Singapore.


By Order of the Board

Ding Hui Yun
Company Secretary