SGX delistings not letting up amid market pressures; year to date, 16 have privatised or face same fate

[SINGAPORE] At least 16 companies are on the delisting track as of the first week of May this year. They have either delisted, confirmed delisting dates or announced plans to exit the Singapore Exchange (SGX).

Meanwhile, only one initial public offering (IPO) has taken place so far this year – car dealer Vin’s Holdings, which listed on the Catalist board in mid-April.

The latest to announce plans to delist includes nursing operator Econ Healthcare (Asia) as well as hospitality player ICP and hotel group Amara Holdings from the healthcare and hospitality sectors. In the technology sector, IT solutions provider Procurri Corp and technology products distributor Ban Leong are preparing to delist.