Singapore Exchange Welcomes Technology Enabler Aztech Global to Mainboard

SGX Aztech

Singapore Exchange (SGX) today welcomed Aztech Global Ltd, a key technology enabler for the connected world of tomorrow. to its Mainboard under the stock code “8AZ”.

With an established reputation and track record of over three decades, Aztech Global Ltd. is a key technology enabler with a focus on providing one-stop design and manufacturing services.

Its product portfolio caters to the fast-growing Internet of things (IoT), data-communications and LED lighting industries. With a globally diversified customer base consisting of blue-chip companies, technology startups and networking product companies, it has over 290 customers worldwide and its products are sold in over 40 countries through multiple channels.

Michael Mun, Executive Chairman and Chief Executive Officer, Aztech Global Ltd., said, “This IPO marks a new chapter in Aztech’s growth journey. Our listing on the SGX Mainboard will provide us with the resources to grow and capture greater market share, and in turn deliver value to our shareholders. As a key technology enabler, our strong technological capabilities and one-stop design and manufacturing services have enabled the Group to ride on the fast-growing IoT and data-communications sectors. We are poised to achieve strategic growth in the long run as technological adoption continues to accelerate.”

Chew Sutat, Head of Global Sales and Origination, SGX, said, “We are pleased to welcome Aztech Global, a home-grown technology company, back on our Mainboard. With their expertise and resilient business model, Aztech Global is well-positioned to benefit from Singapore’s strong technology ecosystem including SGX’s fundraising platform. SGX looks forward to supporting them in their growth journey as they look to enhance their R&D and production engineering capabilities as well as expand their geographical footprint.”

With a market capitalisation of about S$990 million, the listing of Aztech Global Ltd. will boost SGX’s Technology cluster to a total of 83 listings with a combined market capitalisation of more than S$78 billion.

Aztech Global Ltd. opened at S$1.37 today.

SGX Market Statistics for February 2021

Meanwhile, SGX released its market statistics for February 2021. Daily derivatives volume increased while investor demand for exchange-traded funds (ETF) stayed robust.

Derivatives daily average volume (DAV) on SGX rose 6.2% month-on-month (m-o-m) in February to 1.1 million contracts, even as total traded volume was lower year-on-year (y-o-y) at 17.7 million due to fewer trading days in onshore markets.

Several markets across East Asia were closed for extended Lunar New Year holidays in February, a period that was marked in January last year. SGX’s derivatives platform was open and available through these holidays.

Among SGX’s suite of pan-Asia benchmark equity derivatives, SGX FTSE China A50 Index Futures DAV stood at 485,141 contracts in February, up from 437,671 in the previous month, while SGX FTSE Taiwan Index Futures DAV was 104,415 contracts, up from 99,515. –