Skip to content
AllIPO
EN

SGX · Asia

Singapore Exchange

Listing requirements, segments and the practical points that matter for a company from the CIS, Central Asia or the Gulf.

Data checked: 6 November 2026
Location
Singapore, Singapore
Regulator
Monetary Authority of Singapore (MAS); listing regulator - SGX RegCo
Trading currency
SGD
Indicative timeline
Not specified

Listing segments

Mainboard

Minimum market capitalisation
USD 115m
Minimum free float
25%
Track record
1 year
Profit required
No
Minimum shareholders
500
Lock-up
6 months

Rule 210(2), one of: (a) consolidated pre-tax profit at least S$10m in the latest financial year and a 3-year operating track record (no market cap threshold); (b) profitable in the latest year, 3-year track record and market cap at least S$150m (approx. USD 115m); (c) operating revenue in the latest completed financial year and market cap at least S$300m (approx. USD 231m), no profit or 3-year record needed. Public float (Rule 210(1)(a)) is tiered by market cap: below S$300m - 25%; S$300-400m - 20%; S$400m-1bn - 15%; S$1bn and above - 12%; at least 500 shareholders in all tiers. Promoter moratorium (Rule 229): entire holding for 6 months under test (a); under tests (b) and (c) 6 months on the entire holding plus at least 50% for the next 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

Sponsor-supervised market: no minimum operating track record, profit, share capital or market cap requirement (Catalist Rule 406); suitability is assessed by the full sponsor. At least 15% of post-invitation share capital in public hands and at least 200 public shareholders (Rule 406(1)). Promoter moratorium (Rule 422): entire holding for 6 months after listing and at least 50% of the original holding for the next 6 months.

Foreign issuers

Foreign companies can list on both Mainboard and Catalist (primary or secondary listing). SGX and Nasdaq announced in Nov 2025 a proposed Global Listing Board allowing a single prospectus for Singapore and the US.

Recent changes

After the MAS Equities Market Review Group measures of 21 Feb 2025, SGX RegCo from 29 Oct 2025 lowered the Mainboard profit test from S$30m to S$10m, removed the financial watch-list and moved to a more disclosure-based regime. From 4 Jan 2027 MAS prospectus review for Mainboard and Global Listing Board applications is consolidated under SGX RegCo, with a target of 6-8 weeks to process complete applications.

Strengths

  • 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

Watch-outs

  • Market liquidity for small caps is limited
  • Catalist requires a continuing full sponsor and its suitability judgement

Sources

  1. 01SGX Mainboard Rule 210 (version effective 15 May 2026)primary source
  2. 02SGX Mainboard Rule 229 (moratorium)primary source
  3. 03SGX Catalist Rule 406primary source
  4. 04SGX Catalist Rule 422 (moratorium)primary source
  5. 05SGX RegCo Response Paper - A Shift to a More Disclosure-Based Regime (29 Oct 2025)primary source
  6. 06Reed Smith: SGX RegCo advances disclosure-based regime
  7. 07TNGlobal: Singapore to streamline IPO review process from January 2027 (4 Nov 2026)

Requirements change. Always confirm with the exchange and the regulator before making decisions.

All exchangesIPOs on SGX

Exchange comparisons

Is this exchange right for your company?

We compare it with the alternatives on your numbers and tell you what to fix before you apply.

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