SGX to share global fundraising expertise with Ucommune’s co-working community

SINGAPORE: Singapore Exchange (SGX) is partnering with Ucommune, China’s largest co-working community operator, to share its fundraising knowledge and insights with the community’s global members.

The strategic partnership will allow SGX to support Ucommune’s members in understanding equity and debt capital raising as well as tapping international funding via Singapore’s capital markets.

The agreement was sealed at a virtual signing ceremony attended by SGX’s Head of Global Sales and Origination, Chew Sutat, in Singapore, and Ucommune’s Founder, Mao Daqing, in Beijing, China.

As part of the services provided to its global network of members, Ucommune will engage with companies to identify those who are exploring fundraising options. SGX will in turn share best practices, educate, engage and assist suitable companies within the Ucommune community to gain access to capital efficiently. Both parties will jointly organise roundtable meetings with potential investors, roadshows, as well as listing and fundraising briefings, to provide businesses with relevant insight into investment and financing activities and accelerate the pace of Chinese enterprises entering the international market.

Chew Sutat, Head of Global Sales and Origination, SGX, said, “We share Ucommune’s passion to build communities that are centred on sharing, innovation and mutual success. We are excited about the new possibilities and greater collaboration this partnership will bring to entrepreneurs and start-ups. As Asia’s most international exchange, we offer an ideal venue for companies around the world looking to tap global capital while using Singapore as a springboard to realise their growth opportunities.”

Mao Daqing, Founder, Ucommune, said, “Since we established Ucommune five years ago, we have always been committed to empowering Chinese innovators and entrepreneurs. While financial markets globally have been impacted by the COVID-19 pandemic, these challenges bring its own opportunities for companies to innovate, develop and grow. I am excited about our partnership with SGX, which further enhances the investment and financing channels for our member companies to support entrepreneurship and innovation.”

As of the end of 2019, Ucommune has a global network of over 710,000 members and operates more than 200 co-working spaces in 44 cities across Greater China, Singapore and New York.

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