Forget HKEx; SGX carves out its own winning niche
Chew Sutat: SGX is unlike HKEx, which has China as its huge hinterland; SGX in fact punches above its weight
Singapore
UNLIKE Hong Kong Exchanges and Clearing (HKEx), Singapore Exchange (SGX) does not have China as its hinterland, but has managed to punch above its weight in niche sectors, thanks to its diversified fund-raising options, says Chew Sutat, SGX's head of equities and fixed income.
Clearly agitated by criticism that SGX is not attracting initial public offers (IPOs) of the size that HKEx pulls in, he said comparing the two puts one at risk of comparing apples and oranges.
"We are not part of China," he stressed.
Hong Kong, he said, has been the largest IPO market globally for two of the last three years - bigger even than the US and London.
"Why is that? They happen to have a hinterland and are a sovereign part of China. Chinese state-owned companies and private companies there are raising capi…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Volkswagen workers vote decisively to unionise in Tennessee
Sony deal for Paramount would draw added regulatory scrutiny
Bitcoin 'halving' has taken place: CoinGecko
Lululemon to shutter Washington distribution center, lay off 128 employees
Wall Street bonus rules return to regulatory agenda in third try
Honda to invest US$808 million in Brazil by 2030