SGX's New Economy Push Stumbles as UltraGreen Plunges 50%

UltraGreen.ai's ill-fated listing remains SGX's largest non-REIT IPO in eight years, a US$400 million bet that the bourse could finally court tech and medtech darlings. The exchange is betting that today's bloodletting is a temporary blip in a long-term portfolio diversification play. Beyond one troubled listing, the underlying thesis for 'new economy' stocks on SGX remains intact.

The Bear Case

The dream of a 'new economy' SGX took a serious hit as **UltraGreen.ai's...