Company delistings to remain elevated given tough market: analysts
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AMID a challenging investing climate, 34 counters were delisted from the Singapore Exchange (SGX) this year with several more possibly to come before the year ends. Analysts expect the number of exits to remain high in 2023.
Many of those that gave up their SGX listings in 2022 did so following acquisitions or mergers.
Singapore Press Holdings (SPH), for instance, delisted after having been a public company for 38 years. SPH was formerly the publisher of The Business Times, but spun its media operations out into a separate company limited by guarantee. The listed entity sans media operations was subsequently acquired by a consortium called Cuscaden Peak, whose backers included property groups CapitaLand and Mapletree, as well as hotelier Ong Beng Seng.
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