, Singapore

Is Singapore failing in its bid for Asia's IPO market?

Companies are choosing to list in Hong Kong instead.

As the regional stock exchange competition heats up, the Singapore stock exchange may be losing more than it gains as there were more cross-border listings than IPOs held within its own borders in Q1, according to EY’s first quarter Global IPO report. 

Hong Kong continues to be a preferred IPO destination in the region as the report noted that three in five cross border IPOs, which raised a combined US$115m, were Singapore companies.

Back home, however, things are noticeably dismal as only one flotation which raised $0.01b was registered in Singapore as of March 14. This represents a 67% decline QoQ and puts the lion city at par with Myanmar in numbers of listings. 

Also read: Sasseur REIT launches IPO for $396m

Things are looking grim for Singapore especially when pitted against Hong Kong which registered over a third of public listings (57) in Asia Pacific which collectively raised $3.09b in the period until March 14. Indonesia registered 3 IPOs whilst Malaysia and Thailand were able to post 6 listings over the same period. 

Singapore may need to do more to catch up with its regional peers as the year ahead holds more heated competition between local ASEAN exchanges for Southeast Asian listings, EY suggested. 

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Singapore net inflows hit $263.18m in 3Q23
Equity and fixed-income funds reported inflows during the quarter.
OCBC enables customers to lock money in their accounts
Locked funds cannot be used for payments, investments, and ATM withdrawals.


Italy brings its strong suits to Singapore’s fintech expo
Italian trade executive says 9 firms at the Singapore Fintech Festival 2023 exemplify the diverse range of products and expertise Italy can bring to the table.
Trust Bank sets the bar for digital banking in Asia Pacific
The digital bank targets to be Singapore's fourth largest retail bank, CEO Dwaipayan Sadhu said.
How brands can avoid inauthentic nostalgia marketing
A GlobalData expert flag inauthenticity in using throwback marketing and cite brand campaigns that are winning hearts.