Singapore, Jan 10, 2026, 15:11 SGT — Market closed
- MAS has opened a consultation on legal changes aimed at easing dual listings between SGX and Nasdaq via a proposed Global Listing Board
- Singapore Exchange shares last closed up 1.16% at S$17.51, near recent highs
- Investors now watch consultation feedback (due Feb 8) and SGX’s Feb 5 results
Singapore’s central bank has opened a public consultation on legal changes aimed at making it easier for companies to list on both Singapore Exchange Ltd and Nasdaq, a move that would underpin a planned Global Listing Board on SGX. SGX’s regulatory arm is also seeking feedback on its proposed rulebook, including a proposal for issuers to set aside at least 5% or S$50 million of an offering for designated retail brokerages. (Reuters)
The proposals are meant to cut duplication in IPO paperwork, including allowing a single prospectus — the investor disclosure document — to be used across both markets and tightening Singapore’s registration timeline to better match U.S. processes. MAS has also proposed “safe harbours”, or legal protections if conditions are met, covering areas such as forward-looking statements and share repurchases, while SGX RegCo’s draft rules include a minimum market-cap bar of S$2 billion for the new board; both consultations run until Feb 8. “It is probably still too early… for companies to make… strategic decisions,” Timothy Pitrelli, a partner at law firm Cooley, told The Business Times. (The Business Times)
Singapore Exchange shares last closed up 1.16% at S$17.51 on Friday, after falling 2.2% a day earlier. The stock traded between S$17.20 and S$17.53, with about 2.0 million shares changing hands. (StockAnalysis)
Still, investors are weighing whether an easier dual-listing route will translate into deals, given Singapore’s long-running struggle with low share turnover. Deloitte Southeast Asia’s Tay Hwee Ling said the “broader impact will depend on early deal flow” and liquidity support, while Reuters cited LSEG data showing Singapore raised about $2.15 billion in IPO proceeds in 2025 versus $37.2 billion in Hong Kong. (Reuters)
But the gap between rule changes and real listings can be wide. A slow pipeline, a limited pool of eligible issuers and any wobble in global risk appetite could leave the new framework as a neat idea with little near-term volume behind it.
A nearer catalyst is earnings. SGX said it will report first-half FY2026 results before the market opens on Feb 5, with CEO Loh Boon Chye and CFO Daniel Koh scheduled to host a 9:00 a.m. results briefing in Singapore time. (SGX Links)
On the chart, SGX shares are sitting near the top of their 52-week range of S$11.50 to S$17.89, with the 50-day moving average around S$16.94 and the 200-day near S$15.72 — levels some traders use as rough support markers. A clean break above S$17.89 would put the stock in fresh 52-week high territory. (StockAnalysis)
When trade resumes, investors will look for early signals on how restrictive the final Global Listing Board rules may be, and whether potential issuers start to engage. The next hard dates are SGX’s Feb 5 results and the Feb 8 deadline for feedback on the proposed rule changes.
