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Singapore has two failed IPOs in a week as volatility bites
The Singapore equity capital market was hit by some unpleasant news this week when a pair of IPOs were shelved in quick succession. The move drew mixed responses from bankers, with one saying it highlights the city’s dwindling appeal as a listings hub, and others promising a busy year ahead for equity raising. John Loh reports.
Summit Power International was the first to pull the plug on its $260m flotation on Tuesday. It dashed hopes for what would have been the first listing of a Bangladeshi issuer in Singapore.
The book message shared with investors cited market volatility as the reason it could ...Already a subscriber? Login
