Singapore’s IPO reboot sees 3.5x the listings and over $3 billion raised, as reforms bring bourse revenue up 14% via dual listing bridge with Nasdaq

Singapore Exchange Sees Record Revenue Boost Amidst Revitalized IPO Market

Singapore's stock market has officially come alive, with the Singapore Exchange (SGX) reporting a staggering 14% jump in yearly revenue to $1.17 billion. This remarkable feat marks a significant turning point for the country's sluggish stock market, which has been revitalized by a series of market reforms introduced in 2025. The reforms, aimed at reigniting investor activity, have clearly paid off, as evidenced by the SGX's impressive financial performance.

Background & Context

Over the past few years, Singapore's stock market had been struggling to attract new listings, with many companies opting for other bourses in Asia. However, the introduction of tax rebates for newly-listed companies and a government-led injection of 1.5 billion Singapore dollars into the local equity market has helped to create a more favorable environment for businesses to go public. This renewed focus on the SGX has been further bolstered by a dual listing partnership with the US-based Nasdaq exchange.

The SGX's partnership with Nasdaq has allowed companies to raise capital on both exchanges using a single set of offering documents, making it easier for them to access global capital. This innovative approach has been instrumental in revitalizing the SGX's IPO market, with 21 new listings raising a total of $3.2 billion in the past year. In contrast, just six listings raised a mere $20 million in the previous year.

Key Details

According to the SGX's latest financial results, the bourse saw a 24.6% increase in net profits in FY2026. This impressive growth was largely driven by the success of the IPO reboot, which has seen a 3.5-fold increase in listings compared to the previous year. The total value of funds raised through the SGX's IPO market has also seen a significant surge, with $3.2 billion raised in the past year alone.

SGX's Chief Financial Officer, Daniel Koh, attributed the bourse's strong performance to the successful implementation of market reforms and focused execution. "We achieved a milestone year, delivering our highest ever full year revenue and earnings," Koh said during a results briefing. "This strong performance was built on structural market changes and focused execution."

One of the key drivers behind the SGX's success has been its partnership with Nasdaq, which has enabled companies to access global capital more easily. The partnership has also helped to reduce the friction associated with listing on multiple exchanges. "The dual listing substantially reduces the friction for companies which want to access global capital," said Boon Chye Loh, SGX's CEO. "In particular, our focus is on high-growth companies with a nexus to Asia."

What Experts Say

Industry experts have welcomed the SGX's revitalized IPO market, citing its potential to attract more foreign listings and boost the country's economic growth. "The SGX's partnership with Nasdaq has created a more attractive environment for companies to list on the exchange," said a senior analyst at a leading investment bank. "This is likely to lead to more foreign listings and increased capital inflows into the country."

Another expert noted that the SGX's focus on high-growth companies with a nexus to Asia has helped to create a more sustainable and diversified IPO market. "The SGX's focus on high-growth companies has helped to reduce its reliance on traditional industries such as finance and real estate," said the expert. "This has created a more balanced and resilient IPO market."

Key Takeaways

• SGX's revenue has seen a 14% jump to $1.17 billion, driven by the success of the IPO reboot.
• The bourse has seen a 3.5-fold increase in listings compared to the previous year, with $3.2 billion raised through the IPO market.
• The SGX's partnership with Nasdaq has enabled companies to access global capital more easily and reduced the friction associated with listing on multiple exchanges.
• The bourse's focus on high-growth companies with a nexus to Asia has helped to create a more sustainable and diversified IPO market.

What This Means For You

The SGX's revitalized IPO market has significant implications for investors and businesses alike. For investors, the increased listings and capital inflows are likely to lead to more investment opportunities and higher returns. For businesses, the easier access to global capital and reduced friction associated with listing on multiple exchanges make it more attractive to list on the SGX.

As the SGX continues to grow and develop, it is likely to become an increasingly important player in the global IPO market. This has significant implications for the country's economic growth and development, with the bourse likely to play a key role in attracting foreign investment and driving growth.

In conclusion, the SGX's revitalized IPO market is a testament to the bourse's commitment to creating a more favorable environment for businesses to go public. With its innovative partnership with Nasdaq and focus on high-growth companies, the SGX is well-positioned to continue its growth trajectory and become a leading player in the global IPO market.