Singapore needs to seek out partners, launch initiatives to reel in tech IPOs

WITH the Monetary Authority of Singapore (MAS) Review Group looking into ways to revitalise the Republic’s stock market, observers are speculating that Budget 2025 could yield some moves on this front.

They say that the main tasks the Singapore Exchange (SGX) has to work on are teaming up with ecosystem players, and setting up initiatives to boost its attractiveness as a listing destination for tech companies and startups.

Regional peers like the Indonesia Stock Exchange have successfully wooed home-grown tech startups such as GoTo, as well as e-commerce platforms Bukalapak and Blibli.

SGX, on the other hand, lost out in convincing Grab, Sea and biotech startup Mirxes to list in Singapore. These eventually chose to list either in the US or Hong Kong.

If there is a lack of liquidity, promising startups who are based here will choose other listing venues.