Some Chinese firms mull Singapore IPOs,listings, placements as US trade war drags on

At least five companies from mainland China or Hong Kong are planning IPOs, dual listings, or share placements in Singapore in the next 12 to 18 months, four sources said, as Chinese firms look to expand in Southeast Asia amid global trade tensions.The companies include a Chinese energy company, a Chinese healthcare group, and a Shanghai-based biotech group, said the sources, who have direct knowledge of the matter, but declined to be named or to name the firms as the plans are not finalized.The listings would give a boost to Singapore Exchange Ltd., which, despite being a popular venue for yield plays such as real estate investment trusts, has been struggling to attract mega listings and bolster trading volumes.SGX hosted just four initial public offerings in 2024, according to its website.That compares with 71 new company listings recorded by its rival regional bourse Hong Kong Exchanges and Clearing Ltd.Chinese companies are looking to tap the Singaporean bourse as they look to enter, or expand business in, Southeast Asia amid a trade war with the U.S., Jason Saw, investment banking group head at CGS International Securities, said.President Trump imposed tariffs of 145% on imports of Chinese goods, and China in turn raised tariffs on U.S.

goods to 125%, before the two sides agreed to a 90-day pause last weekend.But uncertainty remains, given the time limit and the Trump administration’s unpredictability.Enquiries about listings on SGX “shot through the roof” after Trump ramped up his trade actions against China, Saw said.“Singapore is an important gateway, whether it’s trade (or) business activity from China to the outside world, and a listing in Singapore is an important component of that.” De Win did not mention the listing plans of the Chinese and Hong Kong firms.CGS International, a unit of state-owned brokerage China Galaxy Securities, is working with at least two China-based companies to list on the SGX as early as this year, acc...