Funds raised by IPOs double to $4.6b

This year's 19 IPOs hit $8.3b market cap.

Singapore initial public offerings (IPO) are on a tear as the funds they raised doubled from 2016's level of $2.3b to $4.6b in 2017.

According to the Singapore Exchange (SGX), there have been 23 new listings on SGX, including 19 IPOs, three reverse takeovers (RTO) and one Global Depository Receipt (GDR).

Here's more from SGX:

November saw five IPOs that made their debut on SGX. These included Keppel-KBS US REIT, Mindchamps Preschool and Cromwell European REIT on the Mainboard, and RE&S Holdings and No Signboard Holdings on Catalist.

The market capitalisation of the 19 stocks on debut is also significantly higher, totalling $8.3b, compared to $4.4b in 2016. In total there were 16 IPOs last year, not including the secondary listing of Top Glove Corporation Berhad and Reverse Takeovers (RTO) of China Star Food Group and Golden Energy & Resources and one Global Depository Receipt (GDR).

The 19 IPOs span a number of Sectors and Industries which include Advertising, Construction & Engineering, Chemicals, Education Services, Gas Utilities, Health Care Services, HR & Employment Services, Internet & Direct Marketing Retail, Movies & Entertainment, Office REITs, Real Estate, Restaurants and Telecommunications.

Of the 19 IPOs in 2017, the three best performers from their offer price were Samurai 2k Aerosol (+470%), UnUsUaL (+278%) and Kimly (+42%). All three of the stocks were listed on the Catalist board, which provides investors access to smaller-sized, yet potentially fast-growing companies.

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