Chart of the Day: Singapore ECM issuance raise $3.2b so far this year

Follow-on offerings fell 21.1% from the comparative period in 2020.

This chart from Refinitv shows that the equity and equity-linked (ECM) issuance by Singaporean companies have raised $3.2b (US$2.4b) so far in 2021, 40.1% lower than the proceeds from first half of last year.

Follow-on offerings fell 21.1% from the comparative period in 2020, raising $2.4b (US$1.8b) in proceeds. At least five initial public offerings (IPO) by Singapore firms totaled $377.7m (US$281.3m) so far this year, 58.5% lower than the proceeds raised last year.

Mapletree Industrial Trust has raised $831.6m (U$619.3m) via follow-on offering, making it the biggest Singaporean ECM deal so far this year. Real Estate accounted for 67.1% of Singapore’s ECM proceeds, followed by financials and telecommunications with 12.4% and 9.3% market share, respectively.

DBS Group currently leads Singapore’s ECM underwriting rankings, with a 27.3% market share and $867.9m (US$646.4m) in related proceeds.

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