SGX Lists First Global Depository Receipts (GDRs)

Singapore Exchange Ltd (SGX) has announced the listing of its first Global Depository Receipts (GDRs) by Uttam Galva Steels Limited. GDRs are certificates representing an issuer's underlying shares, which are offered to and traded only by institutional and accredited investors. Listing of GDRs on SGX is a fast and cost efficient method of accessing capital from a large pool of international funds.

"We are proud to be the first GDR to be listed in Singapore. Singapore is fast emerging as a destination of choice for access to a global pool of funds. The efficiency with which SGX processed our listing made this a very pleasant experience", said Mr. Rajinder Miglani, Chairman & Managing Director, Uttam Galva Steels Limited.

Uttam Galva Steels Limited is listed on the Bombay Stock Exchange, National Stock Exchange, the Delhi Stock Exchange and the Calcutta Stock Exchange.

Mr Lawrence Wong, Executive Vice President and Head of Listings at SGX said, "We are pleased to have our first GDR listing on the Singapore Exchange. This listing reinforces and bears testimony to SGX's position as an Asian gateway. SGX provides companies an alternative avenue to access the Singapore capital market for global funds and broaden their investor base. We welcome companies seeking to tap international funding and enhance their profile to leverage on SGX's GDR listing facility."