The Monetary Authority of Singapore has published its response to consultation on proposed amendments to the Securities and Futures Act 2001 to facilitate dual listing arrangements on the Singapore Exchange. The framework is intended to support the Global Listing Board, a partnership between Singapore Exchange and Nasdaq, and future similar collaborations, with harmonised rules and processes designed to reduce friction in the initial public offering process. Under the proposed framework, Global Listing Board issuers may prepare a single set of offering documents for a simultaneous listing on Singapore Exchange and Nasdaq. They will also be allowed to conduct pre-marketing outreach with accredited and institutional investors in Singapore before lodgement of the preliminary prospectus, subject to safeguards. The amendments also provide safe harbours for forward-looking statements, share repurchases and pre-determined trades, which can be used as a defence to specified market misconduct provisions under the Securities and Futures Act for trading activities in both markets. Feedback from respondents focused mainly on investor outreach, prospectus registration timing and process, and post-listing activities in Singapore, and MAS said it has incorporated these suggestions where feasible. MAS will also proceed with the consultation paper amendments that apply to all offers made in conjunction with a listing on Singapore Exchange, including Global Listing Board offers. Further details are set out in MAS's response paper, while SGX RegCo has separately issued its response on the Global Listing Board listing rule book.
Monetary Authority of Singapore 2026-04-30
Monetary Authority of Singapore proceeds with Securities and Futures Act amendments for SGX-Nasdaq dual listings and the Global Listing Board
The Monetary Authority of Singapore has issued its response on amendments to the Securities and Futures Act 2001 to facilitate dual listings on the Singapore Exchange under the Global Listing Board partnership with Nasdaq and similar collaborations. The framework lets Global Listing Board issuers use a single set of offering documents for simultaneous listings, conduct pre-marketing to accredited and institutional investors in Singapore subject to safeguards, and rely on safe harbours for forward-looking statements, share repurchases and pre-determined trades. MAS will also proceed with related amendments for all offers made with a Singapore Exchange listing, while Singapore Exchange Regulation has issued its separate response on the Global Listing Board listing rules.