Singapore Exchange, the operator of the city state’s securities and derivatives markets, said it has proposed revisions to criteria for companies seeking admission to the main board of the stock exchange.

Under the proposal, companies listing on the main board must have a minimum market capitalization of $150 million, be profitable in the latest financial year and have an operating track record of three years, Singapore Exchange said in an e-mailed statement today.

Companies with a market capitalization of at least $300 million will be required to have operating revenue in the latest financial year for admission, the exchange operator said.

Under existing listing rules, companies with a minimum market capitalization of $80 million can list on the main board if they generate a cumulative pretax profit of $7.5 million in the last three years, or $10 million in the last one or two years, according to the stock exchange’s Web site.

Singapore Exchange is also proposing the listing of special-purpose acquisition companies, known as SPACs, it said.