Singapore stock preview: SGX, Nio, Singtel

• Singapore Exchange Ltd share price rallied to S$9.68 on Monday (4 July 2022)
• NIO Inc. share price dropped by nearly 2% last week
• Singapore Telecommunications Ltd Indian subsidiary has approved the allotment of 27,543 fully paid-up equity shares
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Singapore Exchange (SGX: S68)

Singapore Exchange (SGX) said derivatives trading activity ‘rose strongly’ in June 2022, ‘rounding off a robust half-year as sustained volatility in global markets drove institutional demand for portfolio risk management’.

Derivatives traded volume increased 24% year-on-year (YoY) in June to 23.5 million contracts, the highest in three months.

For the first half of 2022 – a period when participants were challenged by severe market conditions, volume was up 13% from July to December 2021 at 116.7 million contracts, with derivatives daily average volume (DDAV) rising 18%.

SGX Equity Derivatives traded volume also increased 25% YoY in June to 16.9 million contracts. Gains were led by SGX FTSE China A50 Index Futures, as volume climbed 20% YoY for the month to 9.4 million contracts.

NIO (SGX: NIO)

NIO’s board of directors has decided to form an independent committee consisting of independent directors Mr. Denny Ting Bun Lee, Mr. Hai Wu, and Ms. Yu Long, to oversee an independent investigation regarding the allegations made in a recent report issued by short-seller firm, Grizzly Research LLC.

‘The independent committee has retained independent professional advisors to assist with the independent investigation, including an international law firm and a well-regarded forensic accounting firm,’ the Chinese electric vehicle maker said.

The company will provide updates on the independent investigation in due course consistent with the requirements of applicable rules and regulations of the Securities and Exchange Commission, the New York Stock Exchange, The Stock Exchange of Hong Kong Limited and the Singapore Exchange Securities Trading Limited.

Singtel (SGZ: Z74)

Singtel’s Indian subsidiary, Bharti Airtel, has approved the allotment of 27,543 fully paid-up equity shares of face value 5 rupees each at a conversion price of 523 rupees per equity share (adjusted in accordance with the terms of the offering circular) to such holder of foreign currency convertible bonds (FCCBs).

This is in reference to the US$1 billion 1.50% convertible bonds due 2025 issued by the company vide offering circular dated 14 January 2020.

Consequently, paid-up equity share capital of the company has increased to 27.95 billion rupees, while outstanding principal value of FCCBs, as listed on the Singapore Exchange Limited, reduced from US$1 billion to US$999.8 million.

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