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SINGAPORE: Singapore is among a handful of countries whose initial public offering (IPO) market would show recovery by the end of this year, according to a survey.
The Ernst & Young "Institutional Investor IPO Survey 2009" noted that respondents are most optimistic about a recovery in emerging markets, like China.
Seventy-five per cent of those surveyed said that the Chinese market would show recovery by the end of this year, followed by India and Brazil at 57 per cent each.
The US garnered 31 per cent of the vote, and 30 per cent of respondents picked Singapore.
Respondents also said that other developed markets like Britain, Australia and Germany would probably recover between 2010 and 2011.
In terms of the industry sectors, investors believed that technology firms will lead the IPO recovery globally, followed by financial services as well as the oil and gas sectors.
Private equity backed firms are also likely to lead the way in driving the IPO market.
The survey was based on responses from more than 300 institutional investors around the world.
- CNA/sc
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