S-E Asian unicorn secondaries sought amid IPO drought
Investors face pressure to cash out of early bets, while family offices and HNWIs seek exposure to the brave new world of tech unicorns
Add BT as a preferred source
Sharanya Pillai
Singapore
FANCY a slice of super-app player Grab, but can't get into one of its blockbuster funding rounds? More investors are gaining access to South-east Asian unicorns via the growing market for their secondary shares, which is in turn supported by a lack of unicorn exits, industry players told The Business Times.
Secondary shares (broadly called "secondaries") refer to shares of a company held by existing investors, management or staff. By selling part or all of their stake, they get to cash out of their positions, while the company itself does not receive any proceeds.
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
Cat A COE rate exceeds Cat B for third time in 4 months; premiums largely down
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
Singapore workers experiencing rising anxiety; signs of fallout from pressure to use AI
