Asean streamlined listings framework explained

Author: Ashley Lee | Published: 31 Mar 2015

The Asean Capital Markets Forum’s (ACMF) streamlined review framework to promote Asean-wide capital markets has been welcomed. But more details are needed.

The Association of Southeast Asian Nations (Asean) has focussed on facilitating cross-border capital markets investment. On March 8 the body announced that regulators and exchanges in Singapore, Malaysia and Thailand had signed a memorandum of understanding to establish a streamlined review framework for a common prospectus.

It follows the Asean disclosure standards, which the same three countries introduced in 2013.

The move is aimed at boosting cross-border listings of equity and plain vanilla debt securities – particularly of so-called Asean champions, or the largest domestic companies.

"The process for multiple listings has traditionally been fairly ad hoc"

"This is concurrent with the Asean funds passport initiative, and is a natural and welcome progression for the equities market in doing the three types of cross-border offerings we see: dual...