Carro, an online car marketplace backed by SoftBank Group, GIC, and Cool Japan Fund, is considering filing confidentially for an initial public offering (IPO) in the United States as soon as June 2026 [1, 2, 3, 4]. The company is working with advisers and aims to raise up to US$500 million in the offering [1, 2, 3, 4].
In addition to the US IPO, Carro plans a potential second listing on Singapore's new Global Listing Board. This board enables companies to dual list on Nasdaq and Singapore with a single filing, provided they meet a minimum valuation threshold of S$2 billion [1, 2, 3, 4].
Founded in 2015, Carro provides a platform for buying and selling vehicles, along with financing, insurance, and aftersales services. It operates across several markets in Asia-Pacific, including Singapore, Indonesia, Australia, Japan, Thailand, Hong Kong, and Taiwan [1, 2, 3, 4].
Singapore's IPO market has strengthened in recent years, reaching a six-year high of US$1.9 billion in 2025 and totaling US$912 million so far in 2026 [1, 2, 3, 4]. This improved market climate may support Carro's consideration of listing in Singapore alongside its US offering.
DayOne Data Centers is another company exploring a dual listing in both the US and Singapore, reflecting growing interest in cross-border IPOs between the two markets [1, 2, 3, 4].
Carro's next concrete step is expected to be the confidential filing for its US IPO as soon as June 2026 [1, 2, 3, 4].
