More misses than hits for Singapore firms that listed in the US in H1
Despite all the drawbacks, analysts say that the US market remains more attractive than the local bourse
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EVEN as many initial public offering (IPO) aspirants seek to list in the US, the recent experience of some Singapore companies has been less than positive.
A check by The Business Times found that three out of the five Singapore-based companies that made their US debuts in the first half year have struggled.
These include Haidilao hotpot chain’s operator Super Hi, which became dual-listed in Nasdaq in May, 18 months after being listed on the mainboard of the Hong Kong Exchange. It raised US$52.7 million at an IPO price of US$19.56 per share.
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