By Jun Yuan Yong and Yantoultra Ngui
SINGAPORE (Reuters) -Singapore's central bank said on Wednesday it would make it easier for companies to establish dual listings on the Singapore Exchange and the Nasdaq,
aiming to boost the city-state's appeal as a hub for high-growth businesses.
The Monetary Authority of Singapore said it would collaborate with the SGX on a regulatory framework for prospectus disclosure requirements that is comparable with U.S. standards, allowing issuers to use a single set of offering documents.
The so-called dual listing bridge, expected to go live by mid-2026, will target Asian companies with a market capitalisation of at least S$2 billion ($1.5 billion) and global ambitions.
SGX said in a separate statement that the bridge would simplify the dual listing process for companies.
SINGAPORE STRIVING TO BOOST ITS EQUITY MARKET
MAS deputy chairman Chee Hong Tat said that companies with operations, customers and investors in Asia could take advantage of the arrangement to improve investor engagement, while tapping deeper capital pools in the U.S. at the same time.
"I hope this will benefit a company that is trying to get capital to be able to support its global ambitions," he said.
The initiative is part of a broader package to strengthen Singapore’s equities market, including a S$30 million "Value Unlock" programme to help listed firms improve investor engagement and shareholder returns.
MAS also named six asset managers, including BlackRock and Lion Global Investors, to manage S$2.85 billion under its Equity Market Development Programme, bringing total allocations to nearly S$4 billion.
Other measures include plans to cut the minimum number of shares investors must buy, modernise post-trade custody and enhance market-making incentives to lower execution costs.
Singapore tops Southeast Asia’s IPO market so far this year, driven by major REIT listings and supported by market reforms and lower rates, according to Deloitte.
MAS said in its release that initial public offering activity had "rebounded significantly", with more than S$2 billion raised involving a number of mid-cap and real estate investment trust listings.
Clifford Lee, DBS Group managing director and global head of investment banking, said the full-year total was likely to top S$2.5 billion to S$2.6 billion and the figure could be close to double that next year.
Upcoming listings include UltraGreen.ai Ltd, a medical imaging and fluorescence-guided surgery company which is aiming to raise $400 million, one of the largest non-REIT listings in the city-state in recent years.
Vietnam-founded biotechnology firm Gene Solutions plans to raise $100 million through a pre-IPO round and a potential listing as soon as 2026 in either Hong Kong or Singapore, the company and its lead investor Mekong Capital told Reuters.
($1 = 1.3025 Singapore dollars)
(Reporting by Jun Yuan Yong and Yantoultra NguiEditing by Mark Potter)
