THIS WEEK’S TOPIC: Will special purpose acquisition companies (SPACs) help to turn Singapore into a tech IPO hub?
Singapore has so far been behind the curve when it comes to building out a tech IPO hub.
Even when we zoom out and look at listed companies as a whole, we have just three new listings on SGX this year, up to Sept 16. According to data from Refinitiv, these companies have raised a total of S$239 million, far behind our regional counterparts like Malaysia, Indonesia, Philippines and Thailand.
That said, I do believe that SPACs can move the needle for tech listings in Singapore. SPACs have been the buzzword in the capital markets for most of 2020, led by the US. The Anchor Fund @ 65 and Growth IPO Fund will certainly help to sway tech founders to consider Singapore as a viable listing venue.
However, to truly transform Singapore as the darling hub for tech IPOs, we must double down on our national brand as the gateway to the US$3 trillion economy of South-east Asia.
Mario Singh
Chief Executive Officer
Fullerton Markets
