SGX expands SDR suite with US-listed Grab, Sea, and SpaceX

The receipts were scheduled to begin trading on 22 July.

The Singapore Exchange has expanded its Singapore Depository Receipts (SDR) offering with three US-listed counters — Grab, Sea, and SpaceX.

The SDRs were scheduled to begin trading at market open on Wednesday, 22 July, according to a TechNode Global report.

The receipts allow investors to trade exposure to the companies in Singapore dollars during Singapore market hours, the report said.

Grab operates ride-hailing, delivery, and financial services, whilst Sea owns e-commerce platform Shopee, gaming business Garena, and digital financial services.

SpaceX operates rocket-launch and satellite broadband services.

The additions bring SGX’s SDR offering to 38 counters covering companies from Thailand, Hong Kong, Indonesia, and the US.

The launch comes as average daily turnover across SGX’s SDR market has tripled year on year to $13m, whilst assets under management rose by more than 150% to $280m.

Retail investors account for more than 80% of total SDR holdings, the report added.

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