Phillip Securities Pte Ltd announced on Aug, 12 2026 that it has set up an unsponsored Singapore Depository Receipts (SDR) programme to issue SDRs representing shares of companies listed on the Stock Exchange of Hong Kong.
The depository will apply to Singapore Exchange Securities Trading Limited (SGX-ST) for quotation of the SDRs. Approval is conditional on SGX-ST being satisfied with the depository, the underlying companies, their shares and the Hong Kong exchange meeting prescribed standards.
SDRs will be traded exclusively on SGX-ST, enabling local investors to gain exposure to Hong Kong-listed equities without transacting directly through overseas exchanges or brokers.
Phillip Securities said the SDRs will be issued under the Securities and Futures (Offers of Investments) (Exemption for Depository Receipts) Regulations 2023, and the current document is not a prospectus registered with the Monetary Authority of Singapore.
Investors were advised of key risks, including potential price volatility, exchange-rate movements between the Hong Kong dollar and the Singapore dollar, the lack of voting rights on underlying shares, and possible delays or restrictions in dividend or corporate-action distributions.
The SDRs will be evidenced by a Master SDR registered in the name of The Central Depository (Pte) Limited, with a deed poll dated Oct, 28 2024 setting out the terms, including fees, withdrawal procedures and conditions for amendments or termination of the programme.