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SG · APAC · Mainboard
SGX Mainboard
Singapore Exchange · Singapore · SGD
Asia's REIT and business-trust capital; sovereign + Temasek anchor demand.
Eligibility · Meridian Renewables (example)
Eligible
Meets listing standards; 1 governance action(s) to close before filing.
Min market cap
$110M
admission floor
Min free float
12%
public hands
Est. all-in
4.2%
on $700M
Time to list
16–20w
from kickoff
Regulator
MAS / SGX
oversight
Eligibility check
✓
Market capitalisation
Requirement: ≥ $110M
$4.8B
✓
Free float
Requirement: ≥ 12%
~15%
✓
Operating history
Requirement: ≥ 3 yrs
11 yrs
✓
Profit / revenue test
Requirement: Profit or market-cap test
Profitable
!
Governance standard
Requirement: SG Corp Gov Code
Gaps
✓
Accounting
Requirement: IFRS / SFRS
IFRS
Rules as of 2026-Q2 · source: SGX Mainboard Rules (MAS, SG). Compiled summary — validate against the primary source before filing.
Fees & cost
Est. all-in · $700M raise$29M 4.2%
Underwriting spread3.2% · $22M
Initial listing feeS$0.1M
Annual feeS$0.1M
Legal · audit · IR · other$6.7M
Total all-in$29M (4.2%)
Market quality & investors
Liquidity★★☆☆☆
Analyst coverage★★☆☆☆
Retail participation★★☆☆☆
Institutional depth★★★☆☆
Index inclusion
STI
Aftermarket: +9% avg first-day
Process & sectors
Typical time-to-list16–20w
RegulatorMAS / SGX
Dual / secondary listingSupported
Min public shareholders500
Sector strength
RealEstateIndustrialsRenewablesFinancials
Notable listings: Sembcorp, Keppel Infrastructure
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SGX Mainboard IPO Listing Requirements & Cost · IPOQB