Business Moves

Tokyo Stock Exchange takes a stake in SGX

By Sameera Anand | 18 June 2007
Keywords: tokyo stock exchange | singapore exchange | sgx

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The Tokyo bourse pays $342 million to acquire just under 5% of Singapore Exchange making it the largest private shareholder in the SGX.

In an intra-Asia stock exchange consolidation, the Tokyo Stock Exchange (TSE) has acquired a stake of almost 5% in the Singapore Exchange.

TSE bought 53 million shares in Singapore Exchange Limited (SGX), representing 4.99% of its capital for about S$528 million ($342 million) based on the closing price of the Singapore Exchange of S$9.95 on June 15. The shares had gained 1.5% during the course of the day.

TSE is now the largest private shareholder in the SGX.

In December 2006, the two exchanges announced plans to work more closely together with the TSE agreeing ...

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