Second board – one board too many

IF there were to be a tombstone for the second board, the epitaph ought to be something like this: “Here lies the second board. Gone but not dearly missed. It once had a purpose, but no longer.” Such are the vagaries of the capital market.

When the second board was established in November 1988, it was to complement the main board by providing smaller companies with firm growth potential, particularly small and medium enterprises (SMEs), an avenue to raise funds in the equity market.