Before these potential listings, the last IPO on the Singapore Exchange (SGX:S68
) (SGX) excluding secondary listings was that of medical supplies firm Pasture Holdings, which was listed on June 9. In between, LYC Medicare Singapore lodged its draft prospectus on June 30 but has yet to launch. In the past few years, several Singapore-based companies have ventured abroad to the US and Hong Kong instead, betting that the supposedly higher valuation these markets offer will outweigh the higher risk that they will fade into oblivion amid the ocean of much larger and more familiar names.
A slate of new SGX listings is poised to take place. But to sustain the momentum, issuers need to revive retail interest too and draw in bigger IPOs
The Singapore IPO market is stirring back to life in the last quarter of the year, with a spate of new listings popping up over the past week. Three new Catalist aspirants — Sheffield Green, WinKing Studios and Niks Professional — lodged their draft prospectuses on Sept 28 and 29. They were followed on Oct 2 by the long-awaited business combination of Vertex Technology Acquisition Corp, the first spac listed here, which plans to acquire Taiwan-based live-streaming platform 17Live.
