What SGX Expects of Listed Companies Conducting an Initial Coin Offering (ICO)

SGX recently provided clarifications for public listed companies seeking to raise ICOs.

SGX recently provided clarifications for public listed companies seeking to raise ICOs.

An Initial Coin Offering (ICO) is an offer of digital tokens or coins to investors which are paid for either with fiat currencies or other crypto-currencies.

Given that many companies all over the world are conducting ICOs to raise funds, it is to be expected that some issuers listed on Singapore Exchange (SGX) are also considering conducting ICOs to finance business growth.

Questions have therefore arisen as to the regulatory obligations of these listed companies when they offer ICOs.

SGX’s CEO, Tan Boon Gim stated that first off the bat, it is important to make clear that even if an SGX-listed company is the issuer of a digital token, those tokens are not listed on SGX.

Therefore, SGX’s rules would cover only the company and not the tokens nor the holder of the tokens.

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