MUMBAI, July 22 (Reuters) - Singapore Exchange Ltd
has opened an office in Mumbai to attract listings and capital
raising from India at a time when the Narendra Modi government
is also seeking to allow more companies to raise funds abroad.
Indian Finance Minister Arun Jaitley said earlier this month
the country would liberalise norms for real estate investment
trusts (REITs) and American and global depositary receipts from
"Our India Office will enable us to better support Indian
enterprises seeking to raise capital," said Magnus Bocker, CEO
of SGX in the statement.
"We look forward to working with partners in India to assist
companies in reaching out to the international investment
SGX has experienced a sharp drop-off in listings this year,
adding to the pain of a penny stock scandal last year and
prompting the bourse to arm itself with new incentives to win
back companies and investors.
Analysts warn Singapore's stock market is risking becoming a
niche player - popular for yield plays such as REITs and
business trusts, as well as the mineral, oil and gas sector -
but not too much else.
Singapore has been a popular listing venue for Indian
offshore bond issuers and has six listings from India, including
Religare Health Trust and Indiabulls Properties
(Reporting by Rafael Nam and Abhishek Vishnoi; Editing by