Business · Singapore Bureau
SoftBank-backed Carro explores dual listing on Nasdaq and SGX
The Singapore-based automotive e-commerce platform is considering a simultaneous initial public offering on both the US and Singapore exchanges. Plans remain fluid, with discussions still in preliminary stages.
LSN Singapore ·
Carro, the SoftBank-backed online vehicle marketplace, is evaluating a potential dual listing strategy that would see the company float shares on both the Nasdaq and Singapore Exchange, according to sources familiar with the matter.
The Southeast Asian automotive e-commerce firm is exploring the listing structure as it seeks to tap capital markets while maintaining a presence on its home exchange. However, sources cautioned that deliberations are ongoing and the scope and timing of any offering could change significantly as discussions progress.
A dual listing would allow Carro to access both US institutional investors and Singapore-based capital markets simultaneously. The approach is not uncommon among fast-growing tech companies in the region seeking to balance global exposure with local market presence.
Carro has built a significant presence across Southeast Asia's automotive sector, leveraging SoftBank's backing to expand its digital platform for vehicle sales. The company has not made any official announcements regarding listing plans or timelines.
Representatives for the company declined to comment on the preliminary discussions when contacted regarding the potential offering.