Gold, RTOs, wind energy: While new listings are floundering, other issuers are finding their way
It seems unlikely investors will be eager to take their chances with IPOs of untested issuers in the rest of the year
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[SINGAPORE] While writing the Mark To Market column last week about Fu Yu Corporation seeking to transfer its listing from the mainboard of the Singapore Exchange (SGX) to Catalist, I was intrigued to learn that no less than half a dozen companies have moved in the opposite direction this year.
Why is that relevant? For one thing, only five issuers have obtained primary listings on the mainboard this year in conjunction with an initial public offering.
Of those five issuers, only EGP Energy Corp is currently above water. The other four – UI Boustead Reit, JustCo, Foundation Healthcare and All-Link Air and Sea – were trading below their respective IPO prices at the end of last week.
