What factors should be considered before investing in unlisted shares?

Investing in unlisted shares can be risky as IPO timelines could face repeated delays, said investment expert Gurmeet Chadha. Prices in the unlisted market are heavily sentiment-driven and "more a function of euphoria around the stock", he cautioned. Chadha also advised retail investors against blindly chasing fashionable sectors like AI and semiconductors in the unlisted space due to fraud risks.