Temasek-backed AEM to begin dual currency trading of its shares

U.S. one-dollar and five-dollar currency notes; taken September 2018.U.S. one-dollar and five-dollar currency notes; taken September 2018.

AEM Holdings, which is backed by Singapore state-owned investment company Temasek Holdings, will begin dual-currency trading of its shares — in both Singapore dollars and U.S. dollars — on 4 January 2022, the company said in a filing to SGX Friday.

The company will have both a U.S. dollar counter and a Singapore dollar counter, but the total number of issued shares will not change, the filing said.

Chandran Nair, CEO of the AEM, said the company believed the dual-currency trading would make the shares more attractive for potential and existing investors.

“AEM’s shareholding has diversified significantly with many foreign investors and funds being part of the shareholder list now. Thus, this initiative of dual currency trading for AEM provides greater flexibility and convenience to investors keen to invest in AEM shares in SGD or USD,” Nair said in the statement.

“It also gives foreign investors more assurance when participating in AEMs shareholding as they can invest in the USD counter without being concerned with exchange rate fluctuations or incurring charges during currency conversion,” he added.

AEM provides application-specific intelligent system test and handling services for semiconductor and electronics companies for advanced computing, 5G and AI markets.