Singapore Exchange to boost listings with dual-class shares

SINGAPORE (Reuters) - Singapore Exchange Ltd (SGX) will soon allow the listing of dual-class share structures (DCS) and set out rules in the first quarter of this year, as it seeks to improve its attraction as a listing destination.

The decision comes weeks after Hong Kong said it will push ahead with allowing DCS under rule changes to be proposed by Hong Kong Exchanges and Clearing, the city's stock exchange.

"SGX will allow companies with dual class shares structure to be listed, CEO Loh Boon Chye said after the exchange announced its second-quarter results on Friday.

SGX, a global listing hub for business trusts and real estate investment trusts, has been considering the move for about a year on the recommendation of a key Singapore advisory panel.

"Singapore is making huge efforts to transition into the new economy and we are already recognized as the leading hub for start-ups. Some of these companies may need a capital structure that supports a rapid scaling up of their business," said Loh.

"The DCS is one way, not the only way. We expect to have our rules out end of this quarter and expect our first listing thereafter.

Earlier on Friday, SGX said it expects increased market activity and more listings after reporting a flat net profit for October-December.

($1 = 1.3190 Singapore dollars)

(Reporting by Anshuman Daga; Editing by Gopakumar Warrier and Elaine Hardcastle)