Just as Hong Kong has taken over from Japan as the second largest stock exchange in Asia (behind Shanghai), and as larger and better performing IPOs show renewed confidence on the part of investors in the city, Singapore’s primary markets have quietly (and rather worryingly) gone off the grid.
HKEX just released its strategic plan for the next three years, painting itself as the “global markets leader in the Asian time zone”. read
I turn my attention to one of the ECM world’s best-guarded secrets: the profits banks can make from stabilisation.
What once looked like a healthy and steady pipeline of IPOs across Europe and the US has evaporated in a flash. read