Chart of the Day: Here's solid proof that Singapore's equity market has fallen from grace

New listings are shrinking.

Singapore's once red-hot stock market is slowly smoldering away as equity listings vanish.

This chart from Thomson Reuters shows that proceeds from equity listings in Singapore's stock exchanges totalled US$173.6 million in the first quarter of the year, a far cry from proceeds of past years.

Although the first-quarter figure was an improvement from US$120.5m raised in Q1 2015, it is much lower compared to US$764.8m in Q1 2014 and US$4.2 billion in 2013.

These proceeds include initial public offerings (IPOs) and follow-on issuance listed in Singapore.

Majority of the equity capital raisings by Singaporean companies were done through follow-on offerings with US$144.7 million in proceeds, up 20.1% from the comparative period last year.

Follow-on offerings accounted for 83.4% of Singapore ECM so far this year, while initial public offerings (IPO) captured 16.7% market share in terms of proceeds.

So far this year, three IPOs were issued by local companies raising US$28.9 million (S$41.5 million) in the SGX Catalist board.

This marks a significant improvement compared to the first quarter of last year when there have been no initial public offerings from Singaporean companies in local or foreign stock exchanges.

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