At least five major firms from mainland China and Hong Kong plan to list on the Singapore Exchange (SGX) within the next 12 to 18 months, including a Chinese energy firm, a healthcare group, and a Shanghai-based biotech company, with some exploring share placements or dual listings. This move, driven by the escalating US-China trade war with tariffs as high as 145% from the US and 125% from China, reflects Chinese companies’ push to tap Southeast Asia’s growing market amid global trade uncertainties. Singapore’s political stability, recent 20% tax rebate for primary listings, and planned incentives make it an attractive hub, despite challenges like stringent listing rules. While Hong Kong remains the top IPO destination with 71 listings in 2024 compared to SGX’s four, Singapore’s reforms and neutrality are drawing increased interest from Chinese firms seeking to raise capital and boost brand visibility in the region.
