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Stefanie Yuen Thio comments in The Edge: “Minorities welcome proposed changes to delisting rules, though it may make process more onerous”
In a story published in the 19-25 November 2018 edition of The Edge Singapore on how the SGX Regco’s proposed changes to the delisting rules for Singapore companies, Stefanie Yuen Thio said: “The new rules give minority shareholders no basis to complain about the major shareholder riding roughshod over their rights. This is a triumph for minority shareholder activism as majority shareholders cannot trample on their rights.”
She added, however: “But one of the SGX’s key challenges is the dearth of new listings, and the increasing number of privatisations. Issue Managers cite the high regulatory and cost burden of being listed in Singapore, especially in light of the lower liquidity in our market. We also don’t want a “ghost market” with companies that cannot get delisted but which are not doing any significant business. These are real problems that the revised delisting rules would not be able to address.”
The story can be found here (The Edge paywalled).
