SGX extends $136.6m to acquire Baltic Exchange
It’s offering GBP160.41 per share.
In an attempt to explore new shipping benchmarks and clearing solutions, Singapore’s local bourse have revealed details about its bid to buy the Baltic Exchange.
According to a report by OCBC, Singapore Exchange (SGX) said it intends to keep the Baltic Exchange’s headquarters in London.
The report added that SGX also aims to maintain the existing market benchmark production and governance model, and keep end-user Baltic data fees and fees for SGX clearing of freight derivatives at current levels for at least five years.
“We see this as another avenue for SGX’s to expand its offerings as current market conditions are fairly challenging, especially for its equities trading business,” the report added.
More From Singapore Business Review