新交所与纳斯达克简化两地上市流程

Core Insights - The Monetary Authority of Singapore (MAS) announced significant measures to enhance the competitiveness of the Singapore stock market, including the establishment of a dual listing bridge between the Singapore Exchange (SGX) and Nasdaq [1][2] - A "Value Unlock" support package worth SGD 30 million was introduced, along with the appointment of a second batch of asset management companies under the Equity Market Development Plan (EQDP) [1] Group 1 - One of the core initiatives proposed in the report is to facilitate a dual listing mechanism between SGX and Nasdaq, aimed at providing quality growth companies with Asian backgrounds and global ambitions the ability to raise funds and liquidity simultaneously in both markets [2] - The plan targets companies with a market capitalization of SGD 2 billion and above, with the new framework expected to launch by mid-2026 [2] - The backdrop for this initiative is the challenges faced by Singapore's securities market, which has seen local companies like Grab and Sea Limited opting for direct listings in the US due to insufficient liquidity [2] Group 2 - As of early November, the SGX mainboard recorded only five IPOs this year, marking the best performance in recent years but still falling short compared to competitors like the Hong Kong Stock Exchange [2] - In contrast, Hong Kong's stock market has seen an average daily trading volume exceeding USD 32 billion this year, doubling from the previous year, with 80 IPOs raising over USD 26 billion in the first ten months, ranking first globally in IPO fundraising [2] - The average daily trading volume of the local stock market in Singapore reached SGD 1.53 billion in Q3 this year, the highest level since Q1 2021 [3]