It has submitted a non-binding bid for the company.
Singapore Exchange revealed Friday that it is in preliminary talks over the potential acquisition of The Baltic Exchange, the London-based issuer of the Baltic Dry Index.
The SGX confirmed reports that it has submitted a non-binding bid for the acquisition, though the local bourse stressed that discussions are still preliminary.
“There is no certainty or assurance that the Possible Transaction will materialise or that any definitive or binding agreement will result from such discussions,” the regulator said in a statement.
“SGX will comply with the listing rules of the Singapore Exchange Securities Trading Limited, and will promptly disclose any material developments in regard to the Possible Transaction by way of public announcement,” the SGX added.
The Baltic Exchange provides maritime market information for the trading and settlement of physical and derivative shipping contracts. It has over 600 members firms, which together are responsible for a large proportion of all dry cargo and tanker fixtures as well as the sale and purchase of merchant vessels.
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