In a filing on Tuesday (5 May), AMTD, a Hong Kong-headquartered financial services company that debuted on the Singapore Exchange (SGX) in early April, stated that it has formed a long-term strategic partnership with SGX to boost the development of Singapore’s capital markets.
To address a growing need for better capital market access to the country and elsewhere, as well as strengthen connectivity between Singapore, the Middle East, the rest of China, ASEAN, and the Guangdong-Hong Kong-Macau Greater Bay Area, AMTD will join hands with the bourse operator.
A multi-dimensional, cross-sector ecosystem called SpiderNet has been built by AMTD International parent, AMTD Group. The ecosystem will connect and promote partnership between its partners, such as industry associations, academic institutions, government bodies, clients, and shareholders.
Both organisations’ corporate clients and partners would be supported in their capital-raising efforts, from the private financing phase to connecting with international expansion and public markets, as stated by AMTD Group.
Utilising distributed ledger technology, both organisations will also jointly explore the issuance and servicing of fixed income securities in the country, alongside the wider utilisation of blockchain in trade finance, international payments and settlements, as well as capital markets.
Several initiatives for entrepreneurs, startups, and businesses have also been announced by AMTD Group in its filing. These initiatives will provide opportunities for efficient market access and fundraising.
To establish the AMTD Global FinTech Fellowship Programme in the country, AMTD Group has worked together with Singapore FinTech Association. This allows for local entrepreneurs to connect with the country’s capital markets while also bolstering their competitiveness in the long run.
AMTD Digital will utilise its expertise in data analytics to look into the vast existing data in SpiderNet and provide guidance to assist corporations in using relevant data. AMTD Digital is the group’s digital arm that is headquartered in Singapore.
With SGX as a supporting and knowledge partner, AMTD Group also announced plans to start an Abu Dhabi AMTD Investment Bank Academy, which will help connect Abu Dhabi with other global capital markets, including Singapore.
On Tuesday (5 May) at 9.20am, shares of dual-listed AMTD International were trading flat on the SGX.