SGX RegCo lifts moratorium on UOB Kay Hian

UOB Kay Hian can now resume managing IPOs and takeovers.

UOB Kay Hian Private Limited (UOBKH) can now act as an issue manager and full sponsor for IPOs and reverse takeovers on the SGX Mainboard and Catalist following the Singapore Exchange Regulation’s (SGX RegCo) decision to lift its previous moratorium.

In a release, the regulator said the brokerage firm took remedial action "to strengthen its policies and procedures for IPO and RTO transactions, including enhanced oversight on the activities of UOBKH’s Corporate Finance Department."

"Having considered the remedial actions that UOBKH has taken to address the recommendations, conditions and directions that SGX RegCo has imposed, SGX RegCo is lifting the Moratorium with immediate effect," the regulator said.