SGX has largest share of IPO money among 6 SEA markets

PHOTO: The Straits Times

Singapore Exchange (SGX) has the biggest share of proceeds from initial public offers (IPOs) among the six South-east Asia stock markets as of yesterday, Deloitte Singapore said.

This is despite of global issues such as Brexit, the United States presidential election, uncertainty surrounding the US interest rate hike and lower economic growth.

SGX, which had 16 IPO listings so far this year, resumed its top spot in the region - generating $2.3 billion in IPO proceeds.

The surge in the total capital raised was boosted by the listing of three real estate investment trusts (Reits) - Manulife US Reit, EC World Reit and Frasers Logistics and Industrial Trust.

Together, they generated $1.9 billion of fresh funds.

Listings this year on the SGX bounced back from 2015 and contributed 16 per cent of total IPO listings in South-east Asia, which is equivalent to 36 per cent of the total funds raised in the region in 2016, Deloitte said.

The top performing industries in the last three years are consumer business, real estate as well as energy and resources.

Reits accounted for 61 per cent of total amount raised from all IPOs in the last three years.


This article was first published on Nov 21, 2016.
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