The Singapore Exchange (SGX) will partner Nasdaq to simplify dual listings in the US and Singapore, announced the bourse on Nov 19 alongside the Monetary Authority of Singapore’s (MAS) latest set of equity review group measures.
Under the partnership, named the Global Listing Board, companies with market capitalisation of $2 billion and above will be able to list on both exchanges with just one set of documents.
According to SGX, institutional asset owners and managers in Singapore have expressed “strong support” for the platform as it provides issuers with a springboard into the US and Singapore markets.
The exchange is also expecting to see a new wave of growth companies spanning start-ups to industry leaders, to expand efficiently.
The SGX says that this proposed Global Listing Board aligns with the broader efforts by the Singapore government’s equities market review group in strengthening the attractiveness of the stock market locally.
The proposed regulatory framework will seek to establish a set of prospectus disclosure requirements in Singapore that are comparable to the US, to allow for the use of a single set of offering documents for the dual listing.
See also: Amova, Manulife IM, Lion Global reveal details of fund strategies chosen under MAS’s $5 bil EQDP
This framework, subject to the finalisation of implementation details and completion of relevant regulatory processes, is scheduled to go live in mid-2026.
“For issuers, the proposition is clear: access to US market depth and Asian growth in a streamlined pathway. We hope to attract quality growth-oriented companies with an Asian nexus seeking to expand their investor base, while staying true to their roots, without having to navigate the complexity of dual regulatory regimes,” says Loh Boon Chye, CEO of SGX Group.
Adena Friedman, Chair and CEO of Nasdaq, says: “In a world of increasing complexity and sometimes fragmenting markets, this initiative demonstrates that cooperation, smart regulation, and shared standards can create opportunity at scale that benefits both global and regional economies.”
See also: Smaller board lots: the race to $10 starts at 10
Read more about the latest updates from the equities market review group:
- Amova, Manulife IM, Lion Global reveal details of fund strategies chosen under MAS’s $5 bil EQDP
- MAS places $2.85 bil with six asset managers; launches $30 mil 'Value Unlock' programme
- SGX to reduce board lot sizes to 10 units for securities above $10
- Smaller board lots: The race to $10 starts at 10
Read more about the equities market review group and the Equity Market Development Programme:
- MAS consults on measures to enhance investor recourse for losses from market misconduct (October)
- More details on ‘Value Unlock’ programme for listcos to be unveiled in November: Chee Hong Tat (October)
- Fullerton launches first retail fund under EQDP to ‘value up’ SGX stocks (October)
- From America to Asia, ‘timing is right’ for SGX measures: Ng Kok Song (July)
- JPMAM’s EQDP-appointed fund strategy to focus on Asian equities with ‘majority’ allocated to Singapore stocks (July)
- MAS picks Avanda, Fullerton, JP Morgan under $5 bil Equity Market Development Programme (July)
- Equities market review group targeting ‘mid-sized but good-sized’ companies to list in Singapore (February)
- Proposing equity market changes a ‘balancing act’ that comes with ‘trade-offs’: Chee Hong Tat (February)
