The perils of privatization.

So far, it’s great. Eager investors, new to the equity markets, rush to buy airline stocks. But there’s a warning from Singapore . . . By Quek Peck Lim

A tempting new line of stock is about to be fed to investors around the world from countries as far apart as Italy and Japan. Encouraged by the global boom in most stock markets, governments around the world are competing with each other to put back in private hands some of their most famous companies, in the largest sell-off of its kind in the history of the equities market.