New measures by MAS aim to streamline disclosures and expand investor access in Singapore’s equities market.
SINGAPORE – The Monetary Authority of Singapore (MAS) has launched a public consultation on a series of proposals designed to simplify prospectus requirements and broaden investor outreach channels for companies seeking to list on the Singapore Exchange (SGX). Announced on 15 May 2025, the reforms are part of a broader effort to enhance Singapore’s appeal as a competitive and dynamic hub for equity fundraising.
The consultation paper outlines three key areas of reform. First, MAS proposes streamlining IPO prospectus disclosures by focusing on core information most relevant to investor decision-making. This move is intended to reduce regulatory burdens for issuers while ensuring transparency and clarity for investors.
For secondary listings on SGX, MAS is advocating for alignment with international disclosure standards. This would enable companies with primary listings in other jurisdictions to reuse their prospectuses with minimal adaptation. Such simplification aims to attract more globally established firms to the Singapore bourse.
MAS plans to amend legislation to provide issuers with greater flexibility in engaging potential investors early in the IPO process. This will facilitate bookbuilding efforts and allow investors more time to understand the offering.
“These changes are part of MAS’s commitment to maintaining a robust and attractive capital market ecosystem,” the authority stated in its release. “By aligning with global best practices and providing issuers with greater flexibility, we aim to strengthen Singapore’s position as a preferred listing destination.”
The proposals were developed in consultation with industry stakeholders and reflect international benchmarks such as the International Organization of Securities Commissions (IOSCO) standards for cross-border offerings. SGX Regulation (SGX RegCo) is concurrently proposing complementary reforms to its listing criteria, further signalling a coordinated approach to revitalise the local equities market.
The initiatives are aligned with the first set of recommendations from the Equities Market Review Group, which was established to enhance the competitiveness of Singapore’s equities landscape. MAS is also inviting feedback from market participants and the public until 14 June 2025. Additional measures, including those focused on investor protection and shareholder value, are expected to follow.
Source: Monetary Authority of Singapore
