The Business Times
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Staying listed in the US could prove to be a rough ride for Singapore companies

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Benjamin Cher

Benjamin Cher

Published Wed, Oct 11, 2023 · 05:00 AM
    • The prestige of being listed on Nasdaq might be dazzling, but the reality is that some Singapore companies could fail to raise adequate capital from the market as well as garner interest among investors to buy into the stock.
    • The prestige of being listed on Nasdaq might be dazzling, but the reality is that some Singapore companies could fail to raise adequate capital from the market as well as garner interest among investors to buy into the stock. PHOTO: BLOOMBERG

    RIDE-HAILING startup Ryde and personal-finance comparison platform MoneyHero Group are the latest in a string of Singapore-linked companies to seek a listing in the US markets.

    But, as one market observer puts it, these companies risk “falling between two stools”. As a small fish in a big pond, some of these Singapore companies could fail to raise adequate capital from the market and garner interest among investors to buy into the stock.

    In a preliminary prospectus lodged on Aug 31, Ryde indicated that it intended to raise up to US$17 million in an initial public offering (IPO) on the New York Stock Exchange (NYSE).

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