Singapore’s stock exchange has struck a deal with Nasdaq to allow companies to list at the two venues simultaneously, as the city-state tries to stem the flow of its fastest growing companies going overseas to list.
Under the arrangement announced on Wednesday, companies with a market value of more than S$2bn ($1.5bn) will be able to file a single set of paperwork with regulators to list simultaneously in Singapore and New York, which executives said was a far simpler process than other dual-listing agreements.
“We hope to attract quality growth-oriented companies with an Asian nexus seeking to expand their investor base, while staying true to their roots, without having to navigate the complexity of dual regulatory regimes,” said Loh Boon Chye, chief executive of SGX Group, which runs the Singapore exchange.