Several Southeast Asian companies are considering listing in the United States, banking on strong investor appetite for emerging market growth in the absence of Chinese stock offerings. Senior executives in leading SME digital financing platform Funding Societies, Singapore-based entertainment firm Gushcloud International and Thai insurance technology firm Sunday told Reuters they were looking into New York as one of their initial public offering (IPO) venues. This comes on top of recently announced plans by Vietnamese internet company VNG Corp and Philippine real estate company DoubleDragon Corp's Hotel101 Global to list in the U.S., filling a void left by Chinese companies which hit the pause button on U.S. IPOs after political tensions with Washington intensified, Beijing tightened scrutiny of domestic firms seeking overseas listings and China's own economy slowed.
Southeast Asian firms have raised about $101 million via IPOs in the U.S. so far this year, way below last year s $919 million, but bankers expect the pace to pick up over the next 12 months as companies hunt for new sources of capital after relying on private funds for the last few years.
Several Southeast
Asian companies are considering listing in the United States,
banking on strong investor appetite for emerging market growth
in the absence of Chinese stock offerings. .
SE Asia Companies Eyeing U.S. IPO in Absence of China industryleadersmagazine.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from industryleadersmagazine.com Daily Mail and Mail on Sunday newspapers.