On 15 May 2025, the Singapore Exchange Regulation (SGX RegCo) issued a consultation paper on its proposed reforms to the Listing Rules (Mainboard) of the Singapore Exchange Securities Trading Limited (SGX-ST), which are intended to complement the measures announced on 21 February 2025 by the Equities Market Review Group aimed at strengthening the competitiveness of Singapore’s equities market.
In this update, our Head of Equity Capital Markets Gail Ong as well as Partners Karen Yeoh and James Choo, summarise the key proposals by SGX RegCo which are applicable to the listing process and are intended to:
• Streamline SGX-ST’s qualitative admission criteria, while retaining relevant and robust disclosure requirements; and
• Refine its quantitative admission criteria, specifically, the profit test for Mainboard admission.
We intend to put a response together to the consultation paper by the closing date of 14 June 2025. You are welcome to approach our Partners Gail Ong, Karen Yeoh and James Choo if you have any questions or comments on the consultation paper.
Gail ONG
Head – Equity Capital Markets
d +65 6416 8205
e gail.ong@wongpartnership.com
Click here to view Gail’s CV.
Karen YEOH
Partner – Equity Capital Markets
d +65 6416 2482
e karen.yeoh@wongpartnership.com
Click here to view Karen’s CV.
James CHOO
Partner – Equity Capital Markets
d +65 6416 2418
e james.choo@wongpartnership.com
Click here to view James’s CV.