S$75 million grant to enhance Singapore as a Financial Hub
The Monetary Authority of Singapore (“MAS”) in the coming month will launch an S$75 million Grant for equity Market Singapore (“GEMS”). Mr. Heng Swee Keat, Minister of Finance and MAS board member announced the same at the UBS Wealth Insights conference, where he highlighted the vision of Singapore being Asia’s center for capital raising and enterprise financing. GEMS will be a 3 year initiative which will help companies seeking to raise capital via the equity market in Singapore.
The GEMS will have three components
- Licensing : It will facilitate enterprises by helping them to get a listing on the Singapore Exchange (“SGX”), by bearing a part of the expenses of their Initial Public Offering Costs (“IPO”)
- Research Talent Development : This is designed to help groom equity research analysts and also to retain the experienced ones, in order to initiate research coverage
- Research Initiatives: This grant will help support crowd based initiatives in order to help develop Singapore equity research ecosystem
Date: 14 January 2019