SINGAPORE EXCHANGE LIMITED
S68.SI
SGX - Secured Baltic shareholders' approval
- Singapore Exchange recently announced that the shareholders of The Baltic Exchange have approved all the resolutions required for the acquisition of The Baltic Exchange.
- Recall that as part of the terms of the acquisition, SGX is committed to maintain Baltic’s existing clearing house model and also strengthen product offerings and services. This acquisition is also conditional on securing the approval of the UK Financial Conduct Authority (FCA).
- Once the acquisition is finalized, this is likely to widen SGX’s offering, especially for index services and products.
- For the near to medium term, we do not see any key price drivers; and the stock has been trading within the S$7.25 to S$7.84 level since May 2016.
- At current price of S$7.47, we maintain our HOLD rating on SGX and our fair value estimate of S$7.36. Current dividend yield is at about 4%.
Carmen Lee
OCBC Investment
|
http://www.ocbcresearch.com/
2016-09-28
OCBC Investment
SGX Stock
Analyst Report
7.360
Same
7.360
