Policy Levers
Interactive
5-Year Net Listings Trajectory & Stock-Flow Dynamics
+22 Net Delta
5-Yr Total Listings
662
Baseline: 640 firms
Year 1 Net Flow
-14
18 IPOs vs 32 Delistings
Turnover Velocity
46.8%
Baseline: 34.2%
Take-Private Arbitrage Reduction
28.5%
PE discount compressed
Corporate Cohort Migration Ledger (Annualized Choices)
| Cohort Sector | Candidate Pool | SGX Listing | Overseas IPO | Take-Private / Delist | SGX Dominant Driver |
|---|
Fiscal Policy Breakeven
MAS ROI
Cost Per Net Retained Firm
S$4.20M
Annual subsidy amortized
Annual Grant Outlay
S$42.5M
Anchor Fund Deployed
S$450.0M
Market-Maker Subsidies
S$14.2M
5-Yr Net Listing Delta
+22 Firms
Market Cap Impact
+S$38.4B
Turnover ADT Boost
+S$380M/day
Microeconomic Insight: Cash grants alone address upfront flotation frictions but do not overcome deep P/E valuation discounts against NYSE/HKEX. Sovereign anchor liquidity directly compresses the illiquidity discount, disarming take-private buyout arbitrage.