The Singapore Exchange (SGX) Group and Nasdaq have unveiled a partnership to establish a streamlined framework for dual listings, aiming to significantly boost the attractiveness and competitiveness of the city-state’s stock market.
This initiative, often referred to as a dual listing bridge, is scheduled to launch by mid-2026 and will create a “Global Listing Board.” It is specifically designed for companies with a market capitalization exceeding S$2 billion (approximately $1.5 billion) that seek global exposure.
A crucial feature of this new framework is the simplification of regulatory obligations and fundraising, allowing issuers to use a single set of documents to fulfill the requirements of both exchanges. This harmonized approach is intended to reduce administrative burdens and complexity for firms.
The Monetary Authority of Singapore (MAS) confirmed it will collaborate with the SGX on establishing prospectus disclosure requirements that are comparable to U.S. standards, enabling the use of these single offering documents.
The goal is to enable firms to access global capital, investors and liquidity through a harmonized cross-border listing framework. Nasdaq CEO Adena Friedman hailed the dual listing bridge as the “first of its kind,” benefiting companies with an Asian footprint by offering global exposure combined with a singular regulatory experience.
In tandem with the Nasdaq partnership, the MAS announced additional measures to strengthen the equities market. These include a S$30 million “Value Unlock” package/programme designed to help listed companies improve corporate strategy, enhance investor relations, and demonstrate value creation. Additionally, the central bank placed S$2.85 billion with six asset managers, including BlackRock, under its Equity Market Development Programme, bringing total allocations to nearly S$4 billion. Other planned reforms encompass modernising post-trade custody and cutting the minimum number of shares investors must purchase.
The MAS has observed increased activity in Singapore’s equity market, noting that average daily turnover climbed 16% year-on-year in the third quarter of 2025 to S$1.53 billion, the highest since Q1 2021. Furthermore, initial public offerings (IPOs) have picked up pace, raising over S$2 billion so far this year. Despite these positive developments, analysts cautioned that the SGX’s relatively lower liquidity compared to the Nasdaq remains a near-term obstacle.
