SGX’s Global Listing Board needs a few strong listings right out the gate
A poor showing might attract comparisons between the bridge and the Spac initiative
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[SINGAPORE] After all the effort that has gone into engineering the Singapore Exchange’s (SGX) dual-listing bridge with Nasdaq, the first few companies that debut on the Global Listing Board (GLB) will be under tremendous pressure to deliver a strong performance.
A poor post-listing showing would not just be bad news for shareholders of these companies, it might also be even worse news for SGX, as it could result in the GLB being compared to the last big initiative to draw exciting new listings to Singapore: the special-purpose acquisition companies (Spacs).
SGX gave Spacs the nod in 2021, to catch the wave of hot companies that were tapping these vehicles to list quickly and with greater certainty. Among the companies that took this route to market in the US were Richard Branson’s Virgin Galactic and Singapore’s own Grab.
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