It seemed just a short while ago when i penned this post 12 months ago!
Time really files and i am sad to report that this must be the worst ever IPO drought I have ever experienced other than during GFC... we only had 3 small Catalist listings for the first 6 months this year (versus 10 for the same period last year).
I spoke to a few bankers doing ECM here this week and they are all looking for new jobs or roles. Mr. Loh Boon Chye, the newly appointed CEO of SGX, has a huge task in front of him to lure listings back to Singapore. Hope the new team can bring forth new ideas to revitalize the market here. I do have a few "suggestions" for him:
- Bring back the lunch hour - let the brokers and dealers have a decent lunch so that they can trade better in the afternoon
- Increase the brokerage commission - help improve the livelihood of dealers and remisiers and they will take care of you
- Increase the bid-ask spread - the market needs volatility to thrive and traders will love you
- Get brokerage or insurance firm to bear the credit default risk and not passed those risk to the remisiers who make negligible commission!
Despite the drought, there is a silver lining!
The only thing positive is my fans (yes you!) grew from 2,706 this time last year to 3,685 today. This is a growth of 36%... ^_^
A big Thank You to all of you and hope the IPO market revives soon!