Don't IPO until you have a following: Koh Boon Hwee

There're many other ways to get funding, he tells young Indonesian entrepreneurs

INVESTOR Koh Boon Hwee had this message for the children of Indonesian entrepreneurs last week: Don't be too hasty to sell shares in your company to the public in an initial public offering (IPO), for there are many other ways to get funding.

A generation ago, the public markets were the only place investors could go to for equity financing, he said. "In today's world, you have alternative sources . . . venture capital, private equity, private debt. You don't need to just depend on bank loans," said Mr Koh, who had chaired Singapore's largest companies such as SingTel, Singapore Airlines and DBS Bank. He is currently the managing partner of private equity firm Credence.

"Look at the stock exchanges...

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