Singtel seeks delisting from ASX on back of very low trading volume

Institutional investors prefer to trade on the SGX.

Singtel today revealed that it is has formally requested approval to delist its securities from ASX on back of low trading volume, liquidity and market demand for Singtel CHESS Depositary Interests.

Each Singtel CDI represents a beneficial interest in the equivalent of one Singtel share listed on the SGX. Singtel shares will continue to be listed on the SGX and trading on the SGX will continue during and after the ASX delisting process.

Singtel was admitted to the official list of the ASX in September 2001 in connection with its acquisition of Optus.

Singtel stated that it has chosen to delist from the ASX because of ‘very low’ daily trading volumes and liquidity of its CDIs on the ASX.

“During the twelve months to 31 March 2015, the number of Singtel CDIs traded on the ASX accounted for only 6% of all Singtel shares traded. This reflects institutional investors’ preference to hold and trade Singtel shares on its home exchange, the SGX,” stated Singtel.

Singtel also reported that in recent years, the number of Singtel CDIs on issue has also declined significantly, representing only 0.86% of Singtel’s share capital as at 31 March 2015.

“With little demand to drive liquidity in its CDIs, Singtel's weighting in the S&P/ASX200 index has been reduced to approximately 0.03% as at 31 March 2015. This further diminishes the broader market appeal of Singtel CDIs. There is increased likelihood that Singtel’s index weighting will be further reduced over time,” Singtel noted.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia