Singapore Exchange (S68.SG) and Nasdaq OMX Group Inc. (NDAQ) Friday extended their collaboration to allow dual listing for new initial public offerings, helping companies tap into Asia's rapid economic growth and robust appetite for equity issues.

“The listing cooperation includes offering a cross listing opportunity to currently listed companies on both the Nasdaq Stock Market and SGX as well as dual listing opportunities for new IPOs. This initiative allows better price discovery and trading opportunities in the Asian and U.S. time zones,” the two exchanges said in a joint statement.

 

The Singapore Exchange plans to add more American depository receipts from Asia-based companies, after listing 19 ADRs trade in which start Friday, the statement said, adding that the move will allow investors to trade in some companies that were previously not available during the Asian trading day.

 

The partnership between the two exchanges will help companies extend their investor base to the Asian region, tipped to grow 8% in 2010 by the International Monetary Fund. It will also help the Singapore Exchange expand its business and become a global player.

 

“The partnership with Nasdaq OMX will bring a wider selection of investment choices to our investors and offer companies access to an enlarged pool of investors” Singapore Exchange Chief Executive Magnus Bocker said in the statement.