Singapore investors less sceptical of IPOs - for now

Singapore investors are more receptive to IPOs, even in the volatile technology sector, than their counterparts in other parts of Asia. That may not last, analysts say.

Singapore investors are more willing than their counterparts in Hong Kong and other parts of Asia to buy shares in the initial public offerings of internet and technology companies. But that is likely to change in the next few months as the stocks of newly listed companies fail to live up to expectations, analysts say.

Nearly 60 companies have launched IPOs in Singapore so far this year, raising some $2.5 billion. That is more than the 51 IPOs in the island-state in the whole of 1999. Offerings this week include Stratech Systems, an information technology company that is selling 66.8 million shares at S$1.10 each.

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