Carro is said to mull first dual Nasdaq-SGX IPO
Deliberations are ongoing and details of the potential offering could change, add sources
Singapore-based used-car marketplace Carro is reportedly considering listing its shares on both Nasdaq and the Singapore Exchange (SGX) in a potential first for the new dual-listing mechanism. Sources close to the matter say Carro has filed confidentially for an initial public offering (IPO) in the US and submitted paperwork for a listing on SGX.
If successful, the dual listing could raise between US$400 million and US$500 million for the company backed by SoftBank Group. Carro is targeting a dual listing later this year or during the first half of next year, according to sources. The move could boost liquidity and diversify Singapore's roster of publicly traded companies.
Singapore has not hosted a listing worth over US$1 billion since 2018, though IPOs in the city-state have seen a 33% increase in proceeds this year, compared to the same period in 2025.
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