MAS Proposes Single Prospectus and Faster IPOs for Global Listing Board

Singapore is seeking to streamline cross-border listings as part of plans for a Global Listing Board linking SGX and Nasdaq, with reforms that could appeal to global issuers and long-term investors.

The Monetary Authority of Singapore has proposed legal and regulatory changes that would allow companies to use a single prospectus for dual listings, speed up prospectus registration to better align IPO timelines with the United States, and introduce US-style safe harbour provisions for forward-looking statements.

MAS said the safe harbours would not protect fraud or dishonesty and would apply only when specific conditions are met, including for activities such as share buybacks and pre-determined trades.

The regulator also proposed changes that would allow issuers to engage retail investors earlier in the IPO process to support more effective bookbuilding.