Value of IPOs by Sin­ga­pore is­suers up 78% in first half

The Nation - - AEC -

The over­all num­ber of ini­tial pub­lic of­fer­ings (IPOs) - do­mes­tic and cross-bor­der - by Sin­ga­pore is­suers was up in the first six months of this year, with 12 list­ings rais­ing US$459 mil­lion or 78 per cent more year on year, a re­port said.

At 12, the num­ber of list­ings in the first half-year was up from 10 in the same pe­riod a year ago, but the an­nual num­ber of Sin­ga­pore IPO list­ings has been on the de­cline in the last decade, the Baker McKen­zie re­port high­lighted. Sin­ga­pore is­suers were also not as ac­tive as their coun­ter­parts in Asia in the first half of the year.

Do­mes­tic cap­i­tal rais­ing by Sin­ga­pore is­suers rose by 64 per cent, although the to­tal num­ber of is­suances halved. On the other hand, the num­ber of cross bor­der list­ings went up by 300 per cent in vol­ume and 166 per cent in value.

Hong Kong and Aus­tralia proved to be pop­u­lar des­ti­na­tions for cross-bor­der IPOs. By sec­tor, in­dus­trial com­pa­nies made up nearly 40 per cent of the cross-bor­der IPOs by value, while real es­tate was in sec­ond place at 22 per cent. These in­clude com­pa­nies such as HPC Hold­ings and ZACD Group.

Mean­while, "Sin­ga­pore has been rolling out pro­grammes to boost its com­pet­i­tive­ness and to at­tract tech­nol­ogy com­pa­nies to list in the lo­cal bourse," the re­port said. These in­clude ty­ing up with the Tel Aviv Stock Ex­change to en­cour­age tech and health­care firms to list on both ex­changes by help­ing them with the prelist­ing stage as well as dur­ing the list­ing process. – The Straits Times

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