Singapore’s central bank on Thursday announced new proposals to make it easier for companies to list on its stock market, part of a rejuvenation effort to attract high-growth companies.
The Singapore Stock Exchange has struggled with low liquidity and valuations and currently has 613 listed companies, the lowest number in two decades.
The Monetary Authority of Singapore’s proposals, for which it is seeking feedback, include removing a requirement for companies to provide third-party attestations along with their profit forecasts and also allowing firms to engage with retail investors and publicise their plans earlier in the process.
It also proposes reducing the amount of information a firm needs to disclose about competing entities that its directors or controlling shareholder owns.
The move comes after Singapore set up a review group in August last year to find ways of strengthening equities market development. In February, it announced measures that include a 20% tax rebate for new primary listings, a 10% rebate for secondary listings and a S$5 billion ($3.85 billion) programme that focuses on investing in domestic stocks.
In the second half of last year, the SGX attracted five new listings, which raised S$19.7 million in aggregate.
Reuters
