Singapore loses home advantage to Hong Kong

epa06225614 Residential and commercial buildings on Hong Kong island in Hong Kong, China, 25 September 2017. Rating agency Standard and Poor's has lowered its long-term rating on Hong Kong to AA+ from AAA on 22 September after it cut its credit rating on China to A+ from AA- to reflect 'spillover risks' to the territory. EPA-EFE/JEROME FAVRE

Bloomberg

Hong Kong is eroding Singapore’s home advantage. 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. That’s the biggest Singapore contingent in the North Asian city in at least a decade, the data show.
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 $2.54 billion, the data show. That compares with $677 million 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 that Hong Kong was “the perfect location” for the firm to access capital.

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