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Hong Kong turmoil may re-route some IPOs to Singapore

Hong Kong turmoil may re-route some IPOs to Singapore

AS COMPANIES rethink fundraising plans in Hong Kong amid anti-government protests, some are said to be exploring Singapore as an alternative listing destination.

Wayne Lee, chief executive officer of issue manager and accredited Catalist sponsor W Capital Markets, said: “As a result of the severe political unrest in Hong Kong, capital flight to safety is expected. Several Singapore companies that were in the midst of preparation to seek a listing in Hong Kong have recently contacted us, exploring a listing on the Singapore Exchange’s (SGX) Catalist board instead.”

This is especially as the pro-democracy demonstrations in Hong Kong have continued for more than 11 weeks and show no sign of relenting.