On October 15 2005, the Securities and Futures Act of Singapore was amended to introduce changes to the securities offering regime that have clarified the position on public offers. The aim of the amendments is to make fundraising easier and less cost-prohibitive for small and medium-sized enterprises (SMEs) by dispensing with the need for a prospectus. The clarity in the definition of what amounts to an offer to the public is achieved by classifying all offers of securities (shares, debentures or units of shares and debentures) as a public offer unless the offer docks within a safe harbour.
January 01 2006