Asean tech IPO drought likely to remain, startups may choose M&A instead
But some see bright spots in the Indonesian market
Add BT as a preferred source
JUST a year ago, at least two dozen tech companies across South-east Asia were eyeing a public listing – offering their early investors a much-awaited opportunity to cash out. But 2022 turned out to be a disappointment, as only a handful of them made it to the finish line.
“The public markets are in a tailspin and there is no certainty when they will stabilise and where the bottom really is,” said Shauraya Bhutani, co-founder of Capital Connect Advisors.
“I think everyone is waiting to reach an equilibrium where there is some certainty around interest rates, inflation and the global geopolitical environment.”
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Rare brutalist Singapore house opens to the public before changing hands
