SINGAPORE Exchange on Wednesday published a set of proposed rules that will allow life sciences firms to list shares on its Catalyst board even if they have not begun commercial activities.
Such firms must, however, have sponsors with access to technical expertise who can advise investors on developments within the company, SGX said in a statement.
Singapore has pumped several billion dollars to promote its biotechnology sector, sending hundreds of young people to top universities abroad and recruiting big-name scientists from overseas to kickstart the industry.
Its biotech ambitions have, however, faced setbacks in the last two years with several of these scientists returning to their home countries. -- REUTERS
