But within Singapore Exchange (SGX:S68
) , there has been a sense of defeatism among staffers in the equity capital markets division, which is responsible for bringing in IPOs, according to people familiar with the matter. The group’s performance targets include more than doubling the number of new listings from seven in the last fiscal year that ended in June, and preventing more delistings, yet staffers believe the goals are unrealistic and impossible to achieve, the people said.
Singapore has kicked off a big effort to revive its withering stock market. Inside its exchange operator and among market participants, there is deep pessimism that the reboot will succeed.
The city-state’s government unveiled a task force in August to come up with ways to revitalise the $811 billion market, which lost its title as Southeast Asia’s largest after delistings far outnumbered initial public offerings.
