The Monetary Authority of Singapore (“MAS”) has announced that it will be launching a new SGD75 million Grant for Equity Market Singapore (“GEMS”). GEMS will be a three-year initiative which helps enterprises raise capital through Singapore’s equity market.
GEMS comprises three components: (a) Listing Grant to aid enterprises intending to list on the Singapore Exchange (“SGX”) by defraying part of their IPO costs; (b) Research Talent Development Grant to groom equity research talent; and (c) Research Initiatives Grant to support crowd-sourced initiatives to boost development of Singapore’s equity research ecosystem.
The level of funding available to enterprises under the Listing Grant is dependent on the industry sector as well as the market capitalisation of the enterprise. The MAS has categorised the eligibility and level of funding into three tiers. “Eligible Expenses” include listing related expenses such as undertaking, placement audit, legal, research, and SGX listing fees.