Singapore loses its lustre as preferred IPO market

But it still beat Hong Kong in the funds that it raised.

Fourteen companies based in the Southeast Asian city have chosen to list on their home stock market this year, compared with 13 on the bourse operated by Hong Kong Exchanges & Clearing Ltd., according to data compiled by Bloomberg.

It’s not all bad news for the Lion City: Singapore Exchange Ltd. beats HKEX in funds raised from the initial public offerings. Led by NetLink NBN Trust, businesses raked in a total of $2.54b, the data show. That compares with $677m raised in Hong Kong, including from firms such as Razer Inc., one of the year’s hottest technology IPOs. Razer Chief Executive Officer Tan Min-Liang said in a Bloomberg Television interview earlier this month that Hong Kong was “the perfect location” for the firm to access capital.

Read the full report here.