Singapore IPOs raise double the funds secured last year

Union Gas Holdings (above) and NetLink NBN Trust (left) are among the 19 firms that went public in the first 11 months of this year.
Union Gas Holdings (above) and NetLink NBN Trust are among the 19 firms that went public in the first 11 months of this year.PHOTOS: UNION GAS HOLDINGS, NETLINK TRUST
Union Gas Holdings (above) and NetLink NBN Trust (left) are among the 19 firms that went public in the first 11 months of this year.
Union Gas Holdings and NetLink NBN Trust (above) are among the 19 firms that went public in the first 11 months of this year.PHOTOS: UNION GAS HOLDINGS, NETLINK TRUST

19 listings in first 11 months of the year hit $4.6b, up from $2.3b for the whole of 2016

Initial public offerings (IPOs) in Singapore this year have raised twice the amount of money racked up in all of 2016.

The 19 IPOs in the first 11 months of the year hit $4.6 billion, double the $2.3 billion raised for the whole of 2016, according to the Singapore Exchange (SGX).

The market capitalisation of the 19 stocks, including Netlink NBN Trust and Union Gas Holdings, was $8.3 billion, compared with $4.4 billion of 16 stocks that made their debut on the bourse in 2016.

There were 16 IPOs last year, excluding the secondary listing of Top Glove Corporation, the reverse takeovers of China Star Food Group and Golden Energy & Resources, and one Global Depository Receipt (GDR) not named in the report.

This year's IPOs came from sectors including construction, healthcare, and office real estate investment trusts (Reits).

Seven were listed on the main board and 12 on the Catalist board.

The seven mainboard offerings have averaged a 6 per cent price gain from their IPO prices while the 12 Catalist stocks have averaged a 68 per cent gain. The median gain of the 12 Catalist stocks was 7 per cent, the SGX said last Friday.

  • $8.3b

    Market capitalisation of the 19 stock listings in the first 11 months of this year, compared with $4.4 billion of 16 stocks that made their debut on the bourse last year.

    45%

    Average price gain of these 19 stocks since they were listed.

    1.8%

    The Straits Times Index added that much for November, bringing its year-to-date dividend inclusive return to 23 per cent.

These 19 stocks have averaged a 45 per cent price gain since they were listed. The three best performers from their IPO price are Samurai 2k Aerosol (up 470 per cent), UnUsUaL (up 278 per cent) and Kimly (up 42 per cent).

There were five IPOs in November - Keppel-KBS US Reit, Mindchamps Preschool and Cromwell European Reit on the mainboard; and RE&S Holdings and No Signboard Holdings on Catalist.

From January to November, there have been 23 new listings on the SGX - the 19 IPOs; reverse takeovers of Pacific Star Development, Hatten Land and Capital World; and one GDR, from Chi Mei Materials Tech that listed in September and raised US$64.9 million (S$87 million).

The Straits Times Index added 1.8 per cent for November, bringing its year-to-date dividend-inclusive return to 23 per cent, compared to Singapore dollar-denominated average returns of 18 per cent for the benchmarks of Australia, Hong Kong and Japan, the SGX said.

A version of this article appeared in the print edition of The Straits Times on December 04, 2017, with the headline 'S'pore IPOs raise double the funds secured last year'. Print Edition | Subscribe