More Singapore IPOs expected this year despite slower growth prospects

SGX saw a total of 10 IPOs which raised $572 million in proceeds in the first half of the year. PHOTO: ST FILE
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SINGAPORE - The local stock exchange saw a higher number of new listings in the first half of the year compared to the whole of last year. This signals returning interest in Singapore as an avenue for equity fund raising that could continue for the rest of the year despite dimmer growth prospects, analysts said.

The Singapore Exchange (SGX) saw a total of 10 initial public offerings (IPOs) which raised $572 million in proceeds in the first half of the year, according to data provided by professional services firm PwC. In comparison, there were eight new listings in 2021, raising $1.7 billion.

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