Singapore introduced plans to create a twin itemizing bridge between the Singapore Alternate and Nasdaq to assist cross-border listings, concluding a evaluation aimed toward strengthening the equities market.
The proposed platform will goal Asian progress corporations valued a minimum of S$2 billion and would permit issuers to make use of a single set of providing paperwork to boost capital in each Singapore and america.
The Financial Authority of Singapore (MAS) expects the initiative to launch round mid-2026, topic to regulatory approvals.
Nationwide Growth Minister Chee Hong Tat, who chaired the evaluation group, stated the hassle “takes a whole ecosystem, the regulator, change, intermediaries, buyers and listed corporations themselves.”
The evaluation additionally launched a S$30 million Worth Unlock programme, supported by the Equip and Elevate grants, to assist listed corporations enhance company technique, capital administration and investor relations.
The package deal will probably be paired with initiatives to strengthen outreach, communications and analysis protection for eligible corporations.
Liquidity, Custody and Connectivity Take Focus in Newest Reforms
To spice up demand for Singapore equities, MAS appointed six extra managers underneath the S$5 billion Fairness Market Growth Programme, allocating S$2.85 billion to BlackRock, Amova Asset Administration, AR Capital, Eastspring Investments, Lion World Buyers and Manulife Funding Administration.
Whole deployment now stands at S$3.95 billion, and the managers could take part in cornerstone allocations for brand spanking new listings.
SGX will strengthen market making for newly listed and small to mid-cap shares exterior the Straits Instances Index, seek the advice of on adopting dealer custody accounts to modernise post-trade processes, and lower board lot sizes for shares priced above S$10 from 100 items to 10 items.
Connectivity measures will broaden to incorporate S$40,000 in grant assist for every depository receipt issuance and better funding for primary-listed and cross-listed ETFs.
The reforms embrace a 20 p.c company earnings tax rebate for brand spanking new major listings and a ten p.c rebate for secondary listings.
Newly listed fund managers will qualify for a 5 p.c concessional tax charge, whereas funds that make investments a minimum of 30 p.c of their belongings in Singapore equities will obtain earnings tax exemptions.
Modifications to the World Investor Programme would require eligible Single Household Workplaces to deploy a minimum of S$50 million into Singapore equities.
Chee stated the reforms will assist corporations “articulate compelling worth propositions and construct a seamless partnership with buyers targeted on sustainable progress.”
Regulatory updates embrace eradicating the monetary watch-list and changing it with a requirement for issuers to reveal after they file three consecutive years of pre-tax losses.
MAS can even co-fund meritorious civil actions and permit designated representatives to deliver motion on behalf of buyers in misconduct circumstances.
Market Exercise Reveals Indicators of Rebound
Common day by day buying and selling worth rose 16 p.c year-on-year within the third quarter to S$1.53 billion, the best since early 2021, whereas small and mid-cap turnover elevated 88 p.c quarter-on-quarter.
IPOs have raised greater than S$2 billion thus far this yr.
MAS will kind an implementation committee co-chaired by MAS managing director Chia Der Jiun and SGX chief govt Loh Boon Chye to supervise execution of the measures.
Extra particulars are anticipated within the first quarter of 2026.
