Singapore and Norway has signed a pact to facilitate the process of secondary listing of companies on each other’s exchange. The Memorandum of Understanding is signed by the Singapore Exchange Limited (SGX) and the Oslo Bors ASA (Oslo Bors), according to a joint statement released by the two exchanges.
It marks the first formal cooperation between the Singapore and Norwegian exchanges and is the first dual listing cooperation with a sector focus between them. Under the arrangement, the SGX and Oslo Bors will institute a framework to enable and facilitate dual listings through mutually agreed listing rules and processes. In addition, both exchanges will set up a process for settlement and clearing of shares traded of these dual listed companies. The cooperation will begin with companies in the energy, offshore and shipping sectors which are key sectors common to both exchanges.