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Singapore Exchange says Indian companies to have biggest IPOs

Singapore Exchange says Indian companies to have biggest IPOs
PTI
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First Published: Wed, Jan 16 2008. 05 34 PM IST
Updated: Wed, Jan 16 2008. 05 34 PM IST
Singapore: Singapore Exchange Ltd, operator of the city’s securities and derivatives markets, expects Indian companies to make up some of its biggest share sales this year following a tie-up with the Bombay Stock Exchange.
The exchange expects to draw Indian companies with more than $700 million in market capitalization to sell shares, said Seck Wai Kwong, Singapore Exchange’s chief financial officer.
Last year, only two of 73 companies that sold shares in Singapore had market values nearly one billion dollar, a data showed.
“We are seeing good interest,” Seck said in an interview. “Our strategy is to aim for the larger companies. India will be a significant source of listings.”
Singapore Exchange needs to attract larger foreign companies to sustain its standing as Southeast Asia’s biggest bourse. The exchange expects more than half of its publicly traded companies to come from overseas in 2012, from 36% now, Seck said.
Singapore Exchange is collaborating with foreign bourses to increase revenue from overseas. It bought a 5.0% stake in Bombay Stock Exchange last year and sold 4.99% of itself to Tokyo Stock Exchange.
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First Published: Wed, Jan 16 2008. 05 34 PM IST
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