Singapore IPO market’s prospects brighten but no quick fix in sight

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A man wearing a protective face mask walks past the Singapore Exchange (SGX) which stays open during “circuit breaker” measures to curb coronavirus COVID-19) in central business district area in Singapore, April 7, 2020. REUTERS/Edgar Su

SINGAPORE, Sept 22 (Reuters) – Singapore’s move to launch new funds to support startups will help companies seeking IPOs, though it could take years before Singapore Exchange (SGXL.SI) might become a centre for regional tech listings, according to market players.

Despite shaping up as one of Asia’s leading finance hubs, Singapore has seen a decline in listings over the past decade and failed to attract large initial public offerings.

Market participants say, though, that the setting up of two funds with S$2 billion ($1.5 billion) in capital for firms’ late-stage fundraising and IPOs, coupled with blank-check companies being allowed to list in the city-state, will attract more startups to list there.

“The value proposition…

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