SingPost's innovative twist

As the stock prepares to trade on the Singapore Stock Exchange, news emerges of a volume discount scheme for large institutional orders.

In what marks a new precedent for Asian equity markets, the Monetary Authority of Singapore MAS has revealed that SingPost established a special incentive scheme in a bid to secure large institutional orders for its IPO last week. On its website this morning Tuesday, the MAS lists eight institutional accounts that received stock at a discount to the IPO price of S$0.60.

Institutional accounts were offered two sets of discounts. Those allocated tickets of more than $35 million received the stock at a 1.5% discount and those allocated more than $20 million, at a 1% discount. According to the website, the Capital Group and Jardine Fleming Asset Management received an aggregate...

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