Singapore's IPO proceeds hit record highs at $3.66b

They also topped Southeast Asia's leaderboard.

Total proceeds from Singapore's initial public offerings (IPO) already hit $3.66b and broke through 2014's total of $3.45b, and it's not even the end of the year yet.

Based on Deloitte's data as at 15 November 2017, Singapore dominated the Southeast Asia IPO leaderboard, followed by Malaysia, which saw $2.35b of proceeds so far.

Whilst Singapore contributed to only 13% of total IPOs globally, it contributed to a sizeable 30% of the total amount raised in Southeast Asia from 2014 to 2017.

The Lion City saw 15 listings in the first 10.5 months of 2017. There were two company IPOs and 3 trusts on the Mainboard, with $248m and $3.2b funds raised respectively, and $1.1b and $4.3b market capitalisation.

There were another 10 Catalist IPOs with $202m funds raised and $1.1b market cap.

Out of 15 IPOs in 2017, 10 or 67% offered subscriptions to the public.

Remarkably, all of these IPOs were oversubscribed at a median of 31.8 times and an average of 102.6 times.

"There is sufficient liquidity in the Singapore market, where individual investors have the capital to invest, are hungry to invest. Demand for new IPOs are high," Deloitte said in the report.

Netlink NBN Trust's blockbuster listing of $3.1b contributed almost half to Singapore' total IPO market cap this year of $6.56b.

The two largest IPOs in Singapore are from Technology, Media and Telecommunications (TMT) and real estate sectors and they floated 78% and 81% of the outstanding shares, respectively.

Around $4.4b came from REITs in Singapore, which contributed to the $11.1b total in Southeast Asia.

Meanwhile, there were 18 consumer business (CB) IPOs which raised $1.45b, the highest in the industry.

There were also 10 industrial products (IP) IPOs that raised $94m, 10 energy and resources (ER) offerings which raised $769m.

All IPOs in Singapore are performing well above their share price, like with Thailand and Vietnam.

Deloitte said, "There is room for the Singapore market to flourish further and attract more IPOs in the years to come."

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