Several Southeast Asian companies are considering listing in the United States, banking on strong investor appetite for emerging market growth in the absence of Chinese stock offerings.
Senior executives in leading SME digital financing platform Funding Societies, Singapore-based entertainment firm Gushcloud International and Thai insurance technology firm Sunday said they were looking into New York as one of their initial public offering (IPO) venues.
This comes on top of recently announced plans by Vietnamese internet company VNG and Philippine real estate company DoubleDragon's Hotel101 Global to list in the U.S., filling a void left by Chinese companies which hit the pause button on U.S. IPOs after political tensions with Washington intensified, Beijing tightened scrutiny of domestic firms seeking overseas listings and China's own economy slowed.