The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Opinion

Nanofilm breaks long barren spell for Singapore IPO

SGX reuters_960.jpg

Absence makes the heart grow fonder as rare deal attracts blue-chip names


Stop all the clocks: Singapore has finally logged a corporate IPO. When Nanofilm Technologies International starts trading this Friday, it will be the first such listing of any consequence in three and a half years.

Singapore Exchange has had a long-standing and worsening problem in its equity markets.

On the primary side, most of the big blue-chip candidates have already listed; the next generation of companies, particularly those on the tech side, either head straight to Nasdaq or don’t bother listing at all because of the widespread availability of private capital.

Real estate investment and other trusts are an exception, but when it comes to actual corporates, they are rarely sighted. And that’s before you get to the challenges with liquidity.

Scarcity value

So, what was different about Nanofilm?

A few things. Firstly, it is a spin-off from Nanyang Technological University, and therefore a homegrown story of some pride (Singapore might not do IPOs any more but it sure does technology universities).

Secondly, the sheer novelty of it – along with its tech credentials (it makes coating materials for smartphones and other gizmos) – attracted some of the region’s biggest investors as cornerstones, among them Temasek,


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree