Spin-off IPOs start to look like a trend

Pre-marketing gets under way for SMC Global Power in the Philippines and Parkson Retail Asia in Singapore, while Noble Group plans for a separate listing of its agricultural business.

One positive day certainly doesn’t make a stable market, but the many listing candidates in the Asian pipeline must have felt some relief yesterday as the recent equities sell-off gave way to at least one session of sizeable gains.

After five straight days of losses, the Singapore Straits Times Index added 2.9%, and in Hong Kong, where markets were closed on Wednesday, the Hang Seng Index rallied 5.7%. The gains, prompted by an improved outlook...

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