{
  "id": 9442131,
  "title": "SoftBank-backed Carro said to mull first dual Nasdaq-SGX IPO",
  "url": "https://urgent.news/2026/09/23/softbank-backed-carro-said-to-mull-first-dual-nasdaq-sgx-ipo",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-23T23:50:00.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/softbank-backed-carro-said-to-mull-first-dual-nasdaq-sgx-ipo"
  },
  "original_language": "en",
  "account": "Used-car marketplace Carro is reportedly considering a dual listing on the Nasdaq and Singapore Exchange, potentially becoming the first company to utilize the new mechanism, according to sources familiar with the matter. The Singapore-based company, backed by SoftBank Group Corp., could raise US$400 million to $500 million in the offering, which is targeted for later this year or the first half of next year. While deliberations are ongoing, Carro could decide against the Singapore listing depending on investor demand, according to the sources. The company's move is seen as beneficial for Singapore, aiming to boost liquidity and expand its roster of publicly traded companies. The dual-listing system, introduced last year, requires companies to file a single set of documents for simultaneous listings in the US and Singapore, with a market value of at least S$2 billion. DayOne Data Centers Ltd. had previously considered a listing on SGX's Global Listing Board, which could have made it the first to use the dual-listing mechanism. However, the company has now decided to focus on its US IPO for now. Singapore, which has not hosted a listing of US$1 billion or more since 2018, has seen a 33% increase in IPO proceeds this year, though it remains a fraction of the amounts raised in Hong Kong and India.",
  "summary": "Deliberations are ongoing and details of the potential offering could change, adds source.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Carro is said to mull first dual Nasdaq-SGX IPO",
        "url": "https://urgent.news/2026/09/23/carro-is-said-to-mull-first-dual-nasdaq-sgx-ipo",
        "published": "2026-09-23T10:59:01.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}