Primary tabs

Singapore is losing home advantage in IPO battle with Hong Kong

Bloomberg Published on Tue, Nov 28, 2017 / 9:12 AM GMT+8

A-

A+

(Nov 28): Hong Kong is eroding Singapore’s home advantage.

Fourteen companies based in the Southeast Asian city have chosen to list on their home stock market this year, compared with 13 on the bourse operated by Hong Kong Exchanges & Clearing, according to data compiled by Bloomberg.

It’s not all bad news for the Lion City: Singapore Exchange beats HKEX in funds raised from the initial public offerings. Led by NetLink NBN Trust, businesses raked in a total of US$2.54 billion ($3.42 billion), the data show. That compares with US$677 million raised in Hong Kong, including from firms such as Razer Inc., one of the year’s hottest technology IPOs. Razer Chief Executive Officer Tan Min-Liang said in a Bloomberg Television interview earlier this month that Hong Kong was “the perfect location” for the firm to access capital.