Singapore Exchange said to be near deal with IMDA for IPOs

SINGAPORE (May 23): Singapore Exchange is nearing a deal with the city’s technology regulator to develop a system designed to encourage local startups to list on the bourse, according to people familiar with the matter.

Under the agreement, the bourse operator would help pair technology companies with investors with the aim of securing their listing in the city-state, the people said. SGX and the Infocomm Media Development Authority are close to finalising the accord, said the people, who asked not to be identified because the talks are private.

Stock exchanges around the world are competing for IPOs as the fight for global capital intensifies. SGX’s tie-up with the regulator will deepen the exchange’s so-called sector approach, with four industries, including technology, the focus of its listings strategy. The move also comes as companies with Singapore roots including Razer Inc. and Sea, Southeast Asia’s most valuable startup formerly known as Garena, are said to be considering listing in Hong Kong or the US.

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