Singapore's tech IPO push unlikely to be a game-changer
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SINCE it became easier for investors to buy stocks overseas, it's become more challenging for the Singapore Exchange to attract international listings. The bourse operator is looking to fight the disruption by becoming the venue of choice for technology companies. While that may boost initial public offerings, it's hard to see the golden days returning.
SGX won approval on Monday from its listing advisory committee to allow dual-class shares. The looser rule caters especially to technology companies such as Alibaba, which chose to list in the US instead of Hong Kong because it wanted to use such a structure to keep more decision-making power in the hands of founders.
The change comes a week after the institution suggested it may backtrack on a 20 Singapore cents minimum trading price rule for main board companies with a market value of at least S$40 million, another move that would cater to startups.
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