The Singapore branch of the Industrial and Commercial Bank of China (ICBC Singapore) will be launching its investment banking services, after it had received accretitation as an issue manager from Singapore Exchange (SGX) on Monday (16 April). 

“With the continuous progression of Belt and Road Initiatives (“BRI”) as well as the increase in economic cooperation between China and Singapore, we have seen strong interest from Chinese companies to tap into Singapore’s capital markets,” said ICBC Singapore deputy general manager Geng Hao. 

ICBC Singapore's initial focus will be on real estate developers and property owners in China's first and second-tier cities as potential listing candidates for Real Estate Investment Trusts (REITs) and Business Trusts (BTs) on SGX. It will also zoom in on sectors such as healthcare, consumer and technology for non-REITs/BT initial public offerings (IPO), Geng Hao added.