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In focus
For this edition, we cover:
- The SGX is bleeding listings. What’s going on?
- Proptech startup LiveIn is quitting Malaysia
- Mirxes to raise US$112.7 million in Hong Kong IPO
Hello reader,
Earlier today, I saw a message from a friend in our shared WhatsApp group. It read, “I was talking to a corporate lawyer who was complaining that he hasn’t had SGX listing work in forever.”
Indeed, there has only been one IPO on the Singapore Exchange this year.
In fact, companies are leaving the exchange in droves. So far, 16 have either delisted, confirmed delisting dates, or announced plans to exit.
According to market watchers in today’s featured story, such delistings have been influenced by volatility in the equities market. This isn’t new: The reality is that the SGX has been afflicted with relatively low liquidity and valuations for quite some time.
Recently, the Singapore government announced plans to try to make the SGX more attractive, including by introducing a new S$5 billion (US$3.9 billion) scheme to boost listed stocks.
To be fair, other exchanges, including big players such as the London Stock Exchange, are also dealing with the issue of delistings. Many companies have their sights set on the US, where they can attract better liquidity and valuations.
It remains to be seen if the disruption caused by Trump’s tariffs will have any impact on this trend.
Simon Huang, senior editor
The Big Story
More firms exit SGX amid market headwinds
Photo credit: Jack Hong / Shutterstock
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