It must be the happiest news today to know that Manchester United is listing its IPO in the US instead of SGX or HK Exchange. The investors here were saved for once from ploughing their hard earned money into another precarious stock. Let the Americans celebrate this great listing.
The local investors would have to thank SGX or Magnus Bocker for this failed listing here. He has saved the local investors big time this round. His service has been extended for another term and let’s hope he will do more to save the stock market. The scrapping of the lunch break and the carrot of increasing trading volumes and commission has failed quite miserably. Maybe extending the trading hours may improve volumes and commission.
At the way the market is moving, and the pathetic volume and commissions generated, many broking houses will be looking at the retrenchment card soon. Let’s hope Bocker can do something to save the stock market or it will go pissed, like a flat tyre, during his watch. And there will be many red faces with no where to hide. Bocker is going to be the savior of the stock market and the industry, or else many will be retrenched soon.