SINGAPORE (Reuters) – Singapore Exchange Ltd (SGX) is amending its initial public offering (IPO) rules to clarify that life science companies seeking to list on its mainboard exchange do not need to be revenue-generating.
The revision was based on a publication of a Listings Advisory Committee’s decision on SGX’s life sciences listing framework on Thursday.
SGX introduced the life science listing framework in 2009, where it waived certain IPO requirements including profitability and revenue for life science companies.
The rules under the life science listing framework were not adjusted to reflect 2012 amendments made to the mainboard listing criteria.
($1 = 1.3456 Singapore dollars)
(Reporting by Yantoultra Ngui; editing by Jason Neely)
