Singapore Exchange (SGX) on Wednesday introduced a new initiative to enhance transparency in the markets by publishing the rule waivers and the basis for granting the waivers to listed companies.
SGX has also included the reasons for the rule waivers to provide market participants with a better understanding of the basis of approvals, said SGX in a statement.
It said it will publish the waivers quarterly, beginning with the period from July to September this year.
It said a typical request from some newly listed companies is a time extension for releasing their first set of financial results, especially when such releases are to take place shortly after their listing on SGX.
SGX will grant such waivers, where necessary and warranted, if the interest of the investing public is not prejudiced.
Under current practice, issuers are already providing timely disclosure and announcements of rule waivers granted by SGX.
To enable greater ease of access to investors and other market participants, SGX has decided to collate the waivers granted and publish them on a quarterly basis on the SGX website.
The Exchange will also categorize waivers granted on a rule rather than on an individual issuer basis, so as to focus on the logic of the waiver.
Source: Xinhua
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