Main Board
- Minimum market capitalisation
- USD 64m
- Minimum free float
- 25%
- Track record
- 3 years
- Profit required
- No
- Minimum shareholders
- 300
- Lock-up
- 12 months
Exchange comparisons
HKEX or SGX
Listing requirements of HKEX and SGX compared from the directory data. Check the primary sources before making decisions.
Data checked: 6 November 2026
Key facts
| Hong Kong Exchanges and Clearing - Main Board | Singapore Exchange | |
|---|---|---|
| Location | Hong Kong, Hong Kong SAR, China | Singapore, Singapore |
| Regulator | Securities and Futures Commission (SFC); listing regulator - The Stock Exchange of Hong Kong | Monetary Authority of Singapore (MAS); listing regulator - SGX RegCo |
| Trading currency | HKD | SGD |
| Indicative timeline | Not specified | Not specified |
| Listing segments | 1 | 2 |
Segments side by side
Figures by segment from the exchange rulebooks. Not specified means the rule does not set the figure or it has not been verified yet.
HKEX
SGX
Mainboard
- Minimum market capitalisation
- USD 115m
- Minimum free float
- 25%
- Track record
- 1 year
- Profit required
- No
- Minimum shareholders
- 500
- Lock-up
- 6 months
Catalist
- Minimum market capitalisation
- Not specified
- Minimum free float
- 15%
- Track record
- Not specified
- Profit required
- No
- Minimum shareholders
- 200
- Lock-up
- 6 months
Hong Kong Exchanges and Clearing - Main Board
Who each exchange suits
- Deep international and mainland China capital pool, one of the largest IPO venues globally
- Alternative non-profit routes for large revenue-generating companies and specialist regimes for biotech and technology (18A, 18C)
- Tiered float lets large issuers float less than 25%
What to check
- 3-year trading record with management continuity under all Chapter 8 tests
- Sponsor-led due diligence and HKFRS/IFRS (or permitted US GAAP) reporting
- New ongoing public float reporting and -PF marker regime since 1 Jan 2026
Singapore Exchange
Who each exchange suits
- Profit test cut to S$10m and non-profit revenue/market cap route for larger companies
- Catalist gives a sponsor-led route with no financial thresholds for growth companies
- Low public float for large caps (down to 12%) and English-language common law framework
What to check
- Market liquidity for small caps is limited
- Catalist requires a continuing full sponsor and its suitability judgement
Requirements change. Always confirm with the exchange and the regulator before making decisions. Educational material. Not investment, legal or tax advice.
Other comparisons
Which of the two fits your company?
Eurasia Consulting Group compares exchanges on the numbers and structure of a specific company.
Information on this site is educational. It is not investment advice, an offer of securities or financial advice. Exchange requirements change; always check the primary sources. Full disclaimer