Several industry insiders tell The Edge Singapore that a mix of different factors is behind the steady stream of delistings.
Market sentiment has turned more bullish now due to the Equity Market Development Programme (EQDP), but delistings are still going ahead. At last count, slightly over 20 privatisation offers have been made this year, compared to nine IPOs and three prospectus filings.
The latest to do so is AF Global, which on Oct 8 announced an offer led by tycoon Koh Wee Meng to privatise the property company at 11 cents per share. Less than two weeks ago, manufacturer Spindex Industries received an offer of $1.43 per share by the controlling shareholders with backing from a private equity firm.
