It will give Singapore investors easy access to HKEX-listed tech-themed stocks.
Lion Global Investors and OCBC Securities will list Singapore’s first technology-focused exchange traded fund (ETF) on the Singapore Exchange (SGX) on 10 December, to be available in both Singapore and US dollar denominations.
The ETF will track the Hang Seng TECH Index, which comprises the top 30 technology companies listed on the Hong Kong Stock Exchange “that have high business exposure to technology themes,” providing Singaporean investors with easy access to technology-themed stocks, OCBC Bank said in a media release.
“This ETF is designed to capture the growth of Chinese TECH-themed companies, including those “homecoming” companies seeking a secondary listing on Hong Kong Stock Exchange (HKEX) as well as companies looking to list on HKEX,” the bank added.
The new ETF will let investors buy smaller lot sizes of just 10 units at one time. It will also be “attractive” to newer investors, as they can start off with less than $20 per trade.
According to OCBC Bank, the ETF’s initial offering period will open on 23 November and close on 7 December with an issue price of each unit during the IOP being $1.34 (approximately HK$7.75 or US$1.00).
Do you know more about this story? Contact us anonymously through this link.