Real estate firms dominate lacklustre IPO market in 2014

They raised $1.9b in total.

Real estate firms continued to dominate a relatively lacklustre IPO market in 2014. According to Deloitte, six real estate firms were listed on the SGX this year, raising a total of $1.9b.

These firms were Accordia Golf Trust, iREIT Global, Frasers Hospitality Trust, OUE Commercial REIT, and First Sponsor Group.

Accordia Golf Trust was the top fund raiser across all IPOs this year, after it raised $758.54m in August. PACC Offshore Services Holdings was a far second after it raised $388.27m.

According to Deloitte, while IPO heavyweights in the real estate sector continue to dominate the Singapore IPO market in 2014, other types of asset properties are also attracting investor interests.

Varied lifestyle-related companies comprising a movie maker/producer and luxury sports car group were on board the SGX, adding colour to its portfolio of assets.

“Beyond the traditional heavyweight real estate and energy & resources industries, a broader range of sectors came to market in 2014. Non-conventional sectors that listed this year covering entertainment, luxury cars and watches, defence, healthcare and furniture may not be considered blockbusters but the emergence of these unique counters could open doors for others to consider listing options on SGX,” said Dr Ernest Kan, Deloitte Southeast Asia Leader for Global IFRS and Offerings Services.

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