Important Note: This chapter was published at the end of July 2026, but reflects our views as at 16 June 2026, being the editorial cut-off date; it being a year of change, some developments have since occurred and/or overtaken parts of it. For example, the SGX-Nasdaq Global Listing Board has launched and the revised Take-over Code has taken effect.

Our Principal, Jeremiah Huang, was once again invited by Global Legal Insights to contribute the Singapore Chapter of its renowned book on Initial Public Offerings.

The 2026 edition, now in its 10th iteration, features a chapter authored by Jeremiah together with our Associate, Loh Yu Tong. It offers practical insights into the IPO process in Singapore and a review of Singapore’s remarkable 2025, in which it rose from last to first amongst Southeast Asia’s major bourses by IPO funds raised (but is the recovery as deep as it looks? See Jeremiah’s interview with Thomson Reuters’ Asian Legal Business here).

This is Jeremiah’s third contribution to GLI, following the 7th edition (2023) and the 9th edition (2025). Last year, we cautioned that the chapter might soon be overtaken by events. This year, those events have arrived in force. The chapter sets out the full suite of measures recommended by the Equities Market Review Group, the recent amendments to the SGX Listing Manual (including the lower S$10 million profit test), and the SGX-Nasdaq dual listing bridge. With many reforms still being implemented, the 2027 chapter may well see just as many changes.

The full chapter is available here.