Singapore Exchange Regulation (SGX RegCo) has initiated a public consultation on the proposed listing rules for its upcoming Global Listing Board, designed to facilitate dual listings on both the Singapore Exchange (SGX) and Nasdaq. This initiative follows a collaboration announced on 19 November 2025 between SGX Group and Nasdaq, aimed at simplifying the dual listing process.
The Global Listing Board is part of the Equities Market Review Group’s recommendations to enhance Singapore’s equities market by improving connectivity with overseas exchanges. The new board will allow companies to list simultaneously in North America and Asia, using a single set of offering documents and undergoing a streamlined review process. Legislative changes to Singapore’s Securities and Futures Act will support this framework.
Key admission requirements for the Global Listing Board include a minimum market capitalisation of S$2b and a listing on the Nasdaq Global Select Market. Companies must also appoint a Singapore resident independent director or a Singapore-based compliance adviser. Additionally, at least 5% or S$50m of the offering must be allocated to retail brokerages to ensure retail access.
Ongoing obligations for listed companies include timely disclosures on SGXNet and maintaining their Nasdaq listing. Failure to comply will result in delisting from the Global Listing Board.
The Monetary Authority of Singapore has also released a Consultation Paper on the necessary legislative amendments. The consultation period for the proposed rules is open until 8 February 2026.
