S-chip listings to make their comeback: Deloitte
AUDIT and consulting firm Deloitte expects China listings to make their comeback here over the next few years, although investor confidence in this scandal-hit sector needs to be rebuilt first.
Dr Ernest Kan, Deloitte's chief of operations for clients and markets, said in a briefing on Tuesday that his firm is already working with "no more than 10" China companies looking to list in Singapore. These firms include those in energy and resources, real estate and life sciences and healthcare, he said, and they could hit the market next year or in 2015.
Bankers and accountants are rubbing their hands in anticipation of more initial public offering (IPO) business from China after a "direct listing framework" set up between Singapore and Chinese regulators last month.
The Singapore Exchange (SGX) will work with the China Securities Regulatory Commission (CSRC) to vet new listings, which could help thaw a freeze in IPOs from "S-chips", or Chinese firms listed here.