The Monetary Authority of Singapore ( MAS ) has proposed streamlining prospectus requirements and broadening investor outreach channels for initial public offerings ( IPOs ) in an effort to enhance the city-state’s appeal as a listing venue.

The proposals focus on three areas: simplifying disclosures for primary listings, easing secondary listings by aligning with international standards, and allowing issuers to engage investors earlier in the IPO process.

For primary SGX listings, issuers would focus on disclosures of material information most relevant to investment decisions. Secondary listings would benefit from reduced duplication by allowing existing international prospectuses with minimal adaptation. Early investor engagement would also be allowed to better support bookbuilding efforts.

The proposed reforms, which have been broadly welcomed by industry leaders, complement changes proposed by Singapore Exchange Regulation ( SGX RegCo ) and are part of a broader effort under the Equities Market Review Group to strengthen Singapore’s capital markets.

“Singapore has significant assets under management yet very little of that capital is flowing into Singapore listings. This proposal is a welcome first step towards enhancing SGX’s competitiveness and appeal but it’s just one step,” says James Leong, CEO of securities trading and technology firm Grasshopper Asia.

“There is an opportunity for Singapore to establish itself as a pre-eminent regional equities hub. Achieving that vision demands a coordinated, sustained commitment across multiple fronts: deepening market liquidity, ensuring globally competitive trading costs, and fostering a dynamic, robust regional trading ecosystem," Leong dds.

Public feedback on the MAS consultation paper is open until June 14.