112B
An issue manager must:—
(1) discharge its obligations with due care, diligence and skill;
(2) in preparing an applicant for a new listing (including an initial public offering, a listing by way of an introduction or a reverse takeover),
(a) be satisfied that:—
(i) Rule 112A has been complied with;
(ii) the applicant is suitable to be listed on SGX-ST;
(iii) the applicant meets admission requirements;
(iv) the applicant is set up sufficiently to comply with the continuing listing requirements;
(v) where the applicant is a corporation, the applicant's directors appreciate the nature of their responsibilities and can be expected to honour their obligations under the Exchange's listing rules. In the case where the applicant is a REIT or a business trust, the same will apply to the directors of the applicant's REIT manager or trustee-manager, as the case may be; and
(vi) the information and confirmation(s) submitted to the Exchange (which includes, where applicable, the confirmations set out in Rules 210(9)(c), 210(9)(g) and/or 246(4)) is complete and accurate in all material respects, and not misleading. If subsequently, the issue manager reasonably believes that the information provided does not meet this standard, it should notify the Exchange as soon as practicable, and correct the information;
(b) conduct adequate due diligence on the applicant. The Exchange will have regard to the due diligence guidelines issued by The Association of Banks in Singapore when assessing the adequacy of due diligence conducted;
(3) provide to the Exchange, as soon as practicable, any information or confirmation that the Exchange may require for the purposes of ensuring that the listing rules are complied with by the issue manager, the applicant and the directors and executive officers of the applicant, REIT manager or trustee-manager, as the case may be. Such information or confirmation shall be provided to the Exchange in such form and within such time as the Exchange may reasonably require;
(4) inform the Exchange of all matters relevant to the listing application that should be brought to the Exchange's attention in a timely manner; and
(5) notify the Exchange as and when there are significant changes to their corporate structure (whether due to mergers and acquisitions, resignation of key management personnel and/or staff of the team managing listing applications, or otherwise).
Added on 10 January 202010 January 2020.