The Singapore Exchange SGX is considering major amendments to its listing rules to promote more retail participation in initial public offerings.
According to a consultation paper published by SGX on Friday, the exchange operator intends to require companies seeking to list on the mainboard to allocate at least 10% of shares to retail investors at the time of their IPOs.
SGX's rules do not set a mandatory allocation of IPO shares to retail investors now. In 2012, the exchange issued a similar proposal for a minimum allocation of 5% of shares for retail investors, but it did not implement the plan after a public consultation....
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