504
Where an issue of structured warrants is based on securities which are listed or quoted on the Exchange:—
(1) the market capitalisation of the listed company must have been at least S$500 million over the past 30 market days; and
(2) the number of structured warrants to be issued, together with those structured warrants already issued by all third-party issuers which are still outstanding, must not exceed 50% of the total number of issued shares excluding treasury shares and subsidiary holdings of the company. In computing the 50% limit, company warrants issued by the company itself will not be included.
Amended on 31 March 201731 March 2017.
505
Where an issue is based on securities of an entity that is not listed or quoted on the Exchange:—
(1) the securities must be listed or quoted on an acceptable stock exchange;
(2) the entity must be an entity that would be able to meet the requirements in Rule 210(2), (3) and (4) for listing of equity securities;
(3) the paid up capital of the entity must be at least S$200 million (or its equivalent) or the market capitalisation of the foreign entity must have been at least S$500 million (or its equivalent) over the past 30 market days of that market;
(4) the number of structured warrants to be issued, together with those structured warrants already issued by all third-party issuers which are still outstanding, must not exceed 50% of the issued securities of the entity. In computing the 50% limit, company warrants issued by the entity itself will not be included; and
(5) price and volume information, and financial and price-sensitive information relating to the entity, must be readily available to investors in Singapore.
506
Subject to Rule 507, no structured warrants may be issued on securities that are not listed or quoted on a stock exchange.