Singapore Exchange (SGX) is enhancing its suite of American Depositary
Receipts (ADRs) by adding new companies from other Asian countries
and partnering a second depositary bank, SGX said on Wednesday.
Initially, the new ADRs to be added are from Focus Media Holdings
(China), JA Solar (China) and POSCO (South Korea). They will trade
on SGX GlobalQuote from this quarter, joining 19 other ADRs from
Chinese companies that debuted on GlobalQuote in October 2010.
Citigroup is the latest depositary bank bringing ADRs onto GlobalQuote,
joining BNY Mellon, which acted for the pioneer batch of 19 ADRs.
Since the ADRs’ launch, GlobalQuote has achieved a total turnover of
S$3.4 billion, SGX said.
Magnus Bocker, CEO of SGX, said: “We are offering (a) wider investment
selection to our investors who have responded positively to the
successful launch last October. By the end of the first quarter, Global-
Quote will offer a pool of the largest and most liquid securities in Asia,
equivalent to more than a third of the companies in the benchmark
MSCI Asia APEX Index which tracks Asia’s top 50 companies.”