With more homegrown companies doing well on the global stage, the country wants to broaden its proposition as a financing hub and attract more high-growth enterprises to list in the city-state.
Singapore aims to become an attractive destination for capital raising by local and regional enterprises, particularly high-growth technology startups, and Temasek, the Monetary Authority of Singapore (MAS), Economic Development Board and Singapore Exchange (SGX) will be rolling out a number of initiatives to support them.
«As more of our start-ups mature into regional and global companies, having a vibrant home equity market becomes more pertinent,» Minister for Trade and Industry Gan Kim Yong said at the Singapore Exchange (SGX) market open on Friday.
More Financing
Among the initiatives the minister announced are the establishment of Anchor Fund @ 65 – a co-investment fund to help promising high-growth enterprises raise capital through public listings and the Growth IPO Fund to help late-stage private enterprises prepare for a public listing.
There will also be enhancements to the Grant for Equity Market Singapore (GEMS) scheme to support enterprises seeking to list in Singapore, and to help develop Singapore’s equity research ecosystem, as well as to SGX's Strategic Partnership Model, which will develop bespoke solutions ranging from private market fundraising to liquidity building and global investor outreach for high-growth companies.
«This interagency initiative further sets Singapore apart as a capital markets hub and is a first of its kind within the region that ensures success for market leaders through deep collaboration between public and private sectors,» Loh Boon Chye, SGX chief executive officer, said.
