As the SGX-Nasdaq Global Listing Board Launches, DFIN Brings Experience Across Both Markets

The author, Margaret Low is Senior Director, Sales, DFIN

The launch of the SGX-Nasdaq Global Listing Board (GLB) in 2026 represents an important step in the evolution of Asia’s capital markets landscape. By connecting Singapore’s capital markets ecosystem with Nasdaq’s global investor network, the framework creates a new pathway for eligible issuers seeking broader access to international capital, enhanced visibility among global investors and exposure to liquidity pools across both Asia and the United States.

For founders, private equity sponsors and management teams, the significance extends beyond the listing venue itself. The GLB reflects a broader shift in how growth companies approach capital formation and market access. As businesses scale internationally and investor bases become increasingly global, maintaining strategic optionality has become a critical consideration. Alongside private fundraisings, M&As and secondary transactions, public markets remain an important source of growth capital, valuation validation and shareholder liquidity.

A New Pathway for Companies with Global Ambitions

The introduction of the GLB offers companies an additional route to access public capital markets while expanding their potential investor reach. For issuers evaluating future financing and exit alternatives, access to both Asian and US investor communities may enhance the range of strategic options available to management teams and shareholders.

However, successful cross-border listings involve far more than meeting eligibility requirements. Companies must be prepared to operate under heightened scrutiny from regulators, investors and other stakeholders while managing disclosure, governance and reporting obligations across multiple jurisdictions. While the GLB seeks to streamline certain aspects of the listing journey, the underlying disciplines required to operate successfully as a public company remain unchanged.

Many companies considering the pathway may be preparing for their first interaction with US capital markets and Securities and Exchange Commission (SEC) reporting requirements. This often requires organisations to strengthen financial reporting capabilities, establish robust disclosure controls and coordinate advisers across demanding transaction timelines.

One of the most significant aspects of the Global Listing Board is its emphasis on greater harmonisation between Singapore and US regulatory requirements. Under the new framework, issuers can benefit from:

1. A single set of offering documents that incorporates US disclosure requirements and allows certain information to be incorporated by reference where permitted under US securities laws.
2. A streamlined disclosure framework designed to support coordinated fundraising and listing activities across both markets.
3. Prospectus requirements that incorporate US disclosure standards while retaining important safeguards, including expert consent requirements.
4. Ongoing disclosure obligations requiring issuers to announce relevant SEC EDGAR filings and other material disclosures required under US securities laws and Nasdaq listing rules.

Companies that invest early in governance, reporting infrastructure and diligence preparation are often better positioned to evaluate opportunities as market conditions evolve and execute when market windows emerge.

The DFIN Advantage: Why Cross-Border Expertise Matters

As companies explore opportunities under the new GLB pathway, working with partners that have experience across both Singapore and US capital markets can provide a meaningful advantage. The ability to navigate cross-border regulatory requirements, disclosure obligations and filing standards efficiently can have a significant impact on execution quality and overall transaction speed.

DFIN’s experience spans notable transactions across both markets, including SK Hynix’s Nasdaq listing (July 2026), PayPay’s US IPO (March 2026) and UltraGreen.ai’s SGX listing (December 2025). These engagements reflect our experience in supporting leading international offerings, high-growth companies and complex cross-border transactions.

DFIN’s Global Capital Markets Solutions are designed to support issuers throughout the IPO journey, from readiness and transaction execution through SEC filing and ongoing reporting obligations. Companies can leverage DFIN’s full-service IPO solution, where dedicated project managers and capital markets specialists provide end-to-end support for document preparation, formatting, SEC filing coordination and execution. DFIN also offers Capital Markets Concierge, a flexible execution model powered by the ActiveDisclosure platform that enables issuers and advisers to retain greater control over the drafting, review and filing process while benefitting from DFIN’s dedicated document and SEC filing expertise throughout the transaction.

DFIN ActiveDisclosure is also designed to support companies in managing ongoing SEC reporting obligations post-listing, including annual reports (Form 20-F), material disclosures (Form 6-K) and beneficial ownership reporting (Section 16, Form 144, and Schedules 13D and 13G), all within a single environment.

DFIN’s industry-leading Venue® virtual data room provides a secure platform for due diligence, document sharing and collaboration among issuers, underwriters, legal counsel, auditors and other stakeholders. As registration statements, prospectuses and supporting disclosure documents progress through multiple drafting and review cycles, issuers can maintain greater control, transparency and efficiency throughout the process.

Preparing for the Opportunities Ahead

The launch of the GLB represents a new opportunity for ambitious companies seeking access to investors across two major financial centres. As management teams assess whether the framework may form part of their future capital markets strategy, preparation remains critical. Experience, infrastructure and regulatory expertise can help simplify the path from listing preparation to market debut and beyond.

Click here to learn more about the disclosure and reporting requirements for SGX-Nasdaq GLB issuers, or contact us to discuss how DFIN can support your IPO and ongoing reporting journey.