Singapore - Planning an initial public offering early next year, the Taiwan Stock Exchange (TWSE) is open to selling a stake to the Singapore Exchange (SGX).

"We are open to any possibility," TWSE chairman Wu Rong-I told a media briefing on Tuesday. "We can talk any time."

TWSE has already held talks with foreign exchanges including Borse Dubai and the New York Stock Exchange on its plans to sell a stake of up to 25 per cent to overseas bourses.

With more than 700 listings, TWSE has started a series of reforms to liberalize the market and boost its competitiveness.

"These reforms include relaxation of rules on off-exchange transactions, stock lending, free delivery settlement and short sales, all aimed at improving liquidity, lowering trading costs and raising market efficiency, " TWSE said in a statement. (dpa)