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Fundraising and capital markets

Data room for an SGX Mainboard IPO

Short answerA Mainboard IPO involves the issue manager, two sets of lawyers, reporting accountants, valuers and industry experts reviewing the company and verifying the prospectus. A data room organised around the due diligence scope, with strict permissions and a verification folder, keeps the process on track.
ABS guidelinesDue diligence standard for issue managers

How it works in Singapore

Companies listing on the SGX Mainboard must meet admission criteria and produce a prospectus registered by MAS. The issue manager leads due diligence, following the ABS Listing Due Diligence Guidelines.

The process runs over several months and many workstreams. Drafts change constantly, so version control and access logs matter.

Best data rooms for sgx mainboard ipo

Our five measures re-weighted for this use case, with a small bonus for rooms built for it. Prices before 9% GST.

  1. 1 Ellty ~S$191/mo 9.1 Visit Ellty
  2. 2 iDeals On quote 8.8
  3. 3 Datasite On quote 8.7
  4. 4 Ansarada On quote 8.5
  5. 5 Intralinks On quote 8.4
  6. 6 Firmex On quote 8.3
  7. 7 Drooms On quote 8.3
  8. 8 Box ~S$19/user/mo 8.0
  9. 9 SmartRoom On quote 8.0
  10. 10 DealRoom On quote 7.9
27%Security22%Deal tools20%Permissions16%Ease of use16%Cost

Folder index for sgx mainboard ipo

01
CorporateGroup structure, constitutions, registers.
02
BusinessOperations, customers, suppliers, industry report.
03
FinancialAudited accounts for the track record, reporting accountants' work.
04
Material contractsSummaries and full contracts.
05
PropertiesTitles, leases, valuations.
06
LicencesAll regulatory approvals.
07
Directors and managementQuestionnaires, service agreements.
08
LitigationClaims and confirmations.
09
VerificationProspectus verification notes and sources.

Singapore rules that apply

SGX Mainboard Rules

Admission criteria, shareholding spread and continuing obligations.

Securities and Futures Act

Prospectus requirements and liability for misstatements.

ABS due diligence guidelines

The market standard for issue manager due diligence.

More detail: SGX listing rules.

Features you need

FeatureWhy it matters hereRooms in our top 10 that list it
Audit trailTime-stamped history of who opened, printed or downloaded each document, exportable for a dispute, insurer or regulator.10 of 10
View and download controlEach file can be set to view-only, print or download, and the setting can be changed later.9 of 10
Q&A workflowBidders post a question against a file; your team drafts, approves and publishes the reply, and the whole thread is kept.9 of 10
Dynamic watermarksThe reader's name, email and time are stamped across each page as it opens, so a photographed page can be traced.10 of 10
Folder uploadA whole folder tree goes up in one drag, keeping its numbering.10 of 10

How to set it up

  1. Index to the due diligence scopeMirror the ABS guidelines' headings.
  2. Set access by firmEach adviser firm has its own group.
  3. Build the verification folderLink prospectus statements to sources.
  4. Lock final versionsKeep a final set for lodgement and registration.

Mistakes to avoid

  • Unclear version control on prospectus drafts.
  • Directors' questionnaires incomplete late in the process.

Questions people ask

How long does an SGX Mainboard IPO take?

Often six to twelve months from appointing advisers to listing, with due diligence running through most of that time.

Who needs access to the IPO room?

The issue manager, legal advisers, reporting accountants, valuers, industry consultants and the company's team.

Is the prospectus verified?

Yes, material statements are traced to source documents, usually recorded in verification notes.