What is stopping firms from listing on SGX and what more can be done?

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SINGAPORE: Online used car market Carro is looking to raise about S$ 130 million ( US$ 98 million ) before its property sector debut.

According to its CEO and co-founder, Aaron Tan, the business raised$ 75 million from the world’s largest lender, HSBC, two months ago.

But despite being headquartered here, the Singapore Exchange (SGX ) is not the company’s first choice.

Instead, it is looking at either the New York Stock Exchange ( NYSE ) or Nasdaq. &nbsp,

” The ( American ) market has a lot of what we call’ depth’, in the sense that there is no lack of potential investors”, Mr Tan explained. &nbsp,

Among the bank’s considerations for identifying are profitability and assessment.

“( The United States has ) a very strong business which has been around for years. More importantly, generally, a lot of businesses that have listed in the US have been able to achieve great prices, specifically it businesses”.

He added that the problem in listing in various bourses, which may be less familiar with technology firms, is receiving a lower assessment.

The major issue and concern we had had, according to the statement,” Do we receive the pricing we want or deserve” if we list on, state, SGX, the Tokyo Stock Exchange, or the Thailand Stock Exchange? he said. &nbsp,