Singapore Announces SGX–Nasdaq Dual Listing Bridge and S$30M to Elevate Equity Markets

2 weeks ago

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Singapore is pushing ahead with one of its most ambitious capital markets upgrades in years, unveiling a direct dual listing bridge between the Singapore platform (SGX) and Nasdaq. The initiative is part of the Monetary Authority of Singapore’s (MAS) completion of the Equities Market Review Group’s final report. The new bridge is designed to give high-growth Asian companies seamless access to liquidity pools across North America and Asia—an increasingly critical requirement for firms with global aspirations.

The proposal, subject to regulatory processes on both sides, will enable issuers to use a single set of disclosure documents comparable to U.S. standards. MAS plans to work with SGX to create the necessary regulatory framework, reducing friction and lowering costs for companies viewking simultaneous listings. The target companies are those with market capitalisation above S$2 billion and a clear Asian nexus, positioning Singapore as the gateway for regional champions looking to scale globally.

The new board is expected to go live around mid-2026. It will leverage existing initiatives like the Programme (EQDP) and Anchor Fund @ 65 to deepen liquidity and support fundraising. The dual listing bridge marks one of the strongest cross-border moves yet to enhance connectivity between Singapore and the world’s largest equity market, creating a clearer path for issuers and investors to tap both ecosystems efficiently.

Takeaway

The SGX–Nasdaq dual listing bridge positions Singapore as a launchpad for Asia’s growth companies, offering simultaneous access to U.S. and Asian capital pools.

How the S$30 Million “Value Unlock” Package Supports Listed Companies

Alongside the dual listing initiative, MAS and SGX introduced a S$30 million “Value Unlock” programme to assist listed companies sharpen their strategic narratives, engage investors more effectively, and strengthen their approach to shareholder value. With Singapore’s equities market viewing renewed investor interest, the timing reflects a strategic push to elevate corporate engagement and improve market valuations.

The package is built around three pillars: capabilities, communication, and communities. Under capabilities, MAS will deploy two new grants from the Financial Sector Development Fund (FSDF) to build corporate strategy, capital management, and investor relations expertise. This is designed to assist companies articulate clearer value propositions and lift their governance practices.

The communication pillar focuses on assisting firms improve the consistency and quality of their strategic messaging, including through toolkits, outreach, enhanced research coverage via GEMS (Grant for Equity Market Singapore), and regulatory clarity on forward-looking communications. Finally, the communities pillar encourages companies to leverage peer networks such as the Singapore Institute of Directors’ Chairpersons Guild to foster best practices in value creation. Together, these efforts aim to cultivate a more informed, engaged, and resilient equities ecosystem.

Takeaway

The Value Unlock package gives Singapore-listed companies funding, tools, and networks to strengthen investor engagement and drive .

Market Structure Enhancements and EQDP Expansion Strengthen Singapore’s Equity Ecosystem

MAS also announced the appointment of a second batch of asset managers under the S$5 billion Equity Market Development Programme (EQDP). The S$2.85 billion allocation spans six local and international managers—Amova, AR Capital, BlackRock, Eastspring, Lion Global, and Manulife—bringing total placements to S$3.95 billion across nine firms. These managers will deploy capital to support Singapore equities, attract new investor flows, and participate in IPOs as cornerstone investors.

In addition, key enhancements to Singapore’s market structure are underway. MAS and SGX will introduce new incentives for market makers in ahead 2026 to lower execution costs and improve liquidity—especially in small- and mid-cap stocks. SGX will also modernise its post-trade custody model by facilitating broader adoption of broker custody accounts. This shift aligns Singapore with major global markets and unlocks services such as fractional trading, robo-investing, and more sophisticated .

Another notable change is SGX’s plan to reduce the board lot size for securities above S$10 from 100 to 10 units. By significantly lowering , this move aims to broaden retail participation and stimulate trading activity. These measures complement earlier reforms to enhance the capital ecosystem, including pro-enterprise disclosure rules and initiatives to support ahead-stage and growth companies. With trading volumes rising—3Q 2025 average turnover hit S$1.53 billion, up 16% year-on-year—the momentum signals a strengthening market outlook.