VN surpasses Singapore as largest IPO fundraiser in Southeast Asia
VGP – Singapore, a major international financial hub, lost its crown as Southeast Asia's top grossing market for initial public offerings in 2018, the CNBC reports.
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In fact, the communist country is still considered a frontier market by major index providers, meaning it's thought to be less established and riskier than even emerging markets. Singapore, meanwhile, is classified as a developed market.
But Singapore's fall this year had little to do with Viet Nam's rise, experts noted. Instead, they said, the wealthy city-state's open economy means it's more affected by global developments and there were plenty of reasons for companies to hold back their listing plans in 2018.
In 2018, Singapore has 13 IPO cases, mobilizing US$ 500 million after Viet Nam, Thailand, and Indonesia in the Southeast Asian region.
Meanwhile, Viet Nam has five IPO cases worth US$ 2.6 billion, leading the region. Especially, Vinhomes made the largest IPO worth US$ 1.35 billion which is the largest one of this type in the region./.
By Kim Anh
