SGX to share fund-raising expertise in tie-up with Ucommune
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The Singapore Exchange (SGX) is partnering China's largest co-working space provider Ucommune to share its fund-raising knowledge.
The agreement, inked at a virtual signing ceremony, will involve Ucommune engaging with firms to identify those that are exploring fund-raising options.
The SGX will in turn share best practices and help suitable companies to gain access to capital, it said on Thursday.
Both firms will jointly organise meetings with potential investors, roadshows, as well as listing and fund-raising briefings to provide businesses with insights into investment activity and accelerate the pace of Chinese enterprises entering the international market, it said.
"The strategic partnership will allow SGX to support Ucommune's members in understanding equity and debt capital raising, as well as tapping international funding via Singapore's capital markets," SGX said.
Ucommune founder Mao Daqing noted: "We (at Ucommune) have always been committed to empowering Chinese innovators and entrepreneurs.
"While financial markets globally have been impacted by the Covid-19 pandemic, these challenges bring their own opportunities for companies to innovate, develop and grow."
As of the end of last year, Ucommune had a global network of over 710,000 members and operates about 200 co-working spaces in 44 cities across Greater China, Singapore and New York.
THE BUSINESS TIMES
