OTS Holdings Debuts on Singapore Exchange Catalist Board – – Daily Cryptocurrency and FX News

OTS Holdings is the newest firm to start trading on Singapore Exchange (SGX). At the time of addition to the Catalist on Thursday, OTS Holdings has a total market capitalization of nearly $49 million.

The official press release issued by the exchange stated that SGX now had 218 companies added to the Catalist, and the total market capitalization for the firm now reached around $13 billion.

Growing Additions to Singapore Exchange

The list of companies added to the Singapore Exchange is growing by the day. The exchange has incorporated an additional 137 companies serving in the consumer sector. These companies have a total market capitalization of $76 billion.

Mohammed Nasser Ismail, the Head of Equity Capital Markets at the Exchange, spoke on the recent addition saying, “We are delighted to welcome OTS Holdings Limited to SGX Catalist. With an established track record and experienced management team, OTS Holdings is well-positioned to tap on SGX’s international platform to engage investors as it continues innovating and expanding its business regionally. We look forward to supporting the company at every step of their growth journey.”

The year 2021 has been very eventful for Singapore Exchange. Since the beginning of the year, the exchange has welcomed various firms who have joined as trading members. In March 2021, SGX added Haitong International as a clearing member. In early June 2021, Singapore Exchange also incorporated Synergy Futures Limited, a financial service provider based in Hong Kong.

Expanding Operations

OTS Holdings will leverage the opportunity created by its recent IPO listing to accelerate its expansion plans. The IPO listing is expected to generate $7.9 million in net proceeds, where $6.6 million of the proceeds will be directed to OTS Holdings.

The funds will be used to expand the firm’s operations in the region. It will also help create other investment opportunities by expanding its manufacturing capabilities, enhancing research and development and general working purposes.

Besides, OTS Holdings is expanding its reach in the Asian market, particularly in Malaysia and the Philippines. Therefore, some funds will be allocated to enable this market expansion and to fund research and development projects.

Along with our team, I am excited about the opportunities we have ahead of us, and we look forward to welcoming new investors to join us on the next phase of OTS Holdings’ journey as a brand builder in Asia’s consumer markets,” stated Ong Bee Chip, the managing director for OTS Holdings Limited.

What do you think?

0 points
Upvote Downvote

House Republicans begin accepting cryptocurrency donations

The Bitcoin Death Cross: what it is and when it will occur