SGX exits on the rise as pandemic weighs on market prices
New initiatives critical as IPOs play catch-up with number of delistings
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THE Singapore Exchange (SGX) has seen a flurry of privatisation offers this year - at a rate of more than one a month - in what market watchers say is part of a global trend amid the Covid-19 pandemic.
"Clearly, the owners (of the listed companies) see a disparity between its value and market price, and are taking advantage of this," said Justin Tang, head of Asian research at United First Partners.
The latest in the rash of delisting talks was for property and hospitality group Roxy-Pacific Holdings, which on Monday received a preconditional voluntary general offer from a consortium including chairman and chief executive Teo Hong Lim for all the issued ordinary shares in the company.
