Digital Banking: AMTD International Confirms its Secondary Listing on the Mainboard of the Singapore Exchange Securities Trading Ltd

AMTD International (NYSE: HKIB; SGX: HKB), which is part of the AMTD Group, an established Asian financial services conglomerate, has confirmed its secondary listing on the Mainboard of the Singapore Exchange Securities Trading Ltd (the “SGX-ST”) under the ticker “HKB.”

AMTD International’s listing notably marks SGX’s first listing ceremony that has been performed digitally.

The firm is dual-listed on the New York Stock Exchange (NYSE) and the Singapore stock exchange (SGX-ST). It’s reportedly the first firm with a “dual class shares structure” to list in Singapore.

AMTD International is one of the largest financial institutions that’s domiciled in China and Hong Kong, while being listed on the SGX-ST (in terms of market cap). AMTD International’s most recent closing price (on April 8, 2020) was SGD16 per ordinary share.  The company has a market cap of SGD3.9 billion.

The AMTD Group has acquired a digital banking license in Hong Kong. The firm’s virtual bank, Airstar, is presently in its beta stages of development. The Group confirmed that it’s in the process of applying for digital banking licenses in Malaysia and Singapore.

Calvin Choi, chairman and CEO at AMTD International, stated:

“Listing on the SGX marks another milestone of AMTD International and AMTD Group. AMTD … sees enormous opportunities in the ASEAN region with Singapore as its hub and regional headquarters.”

Choi added:

“We will leverage Singapore’s dynamic capital market, energetic new economy sectors and diverse talent pool to create supreme connectivity between Singapore, Southeast Asia, the Greater Bay Area and the rest of China.”

The SGX conducted a live broadcast of the “Digital Listing Ceremony” for the listing of AMTD International.

Chew Sutat, senior managing director and head of global sales and origination at SGX, and Sopnendu Mohanty, chief fintech officer of the Monetary Authority of Singapore, delivered speeches during the ceremony.

Mohanty remarked:

“We sincerely believe AMTD International’s digital aspirations will find its success by being part of the Fintech growth in Singapore and is well-positioned to connect not only with the ASEAN market but also with the broader global ecosystems.”

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