Chart of the Day: Singapore-domiciled firms raised 12-year low in ECM proceeds

It’s an 80.8% decline from last year.

Five Singaporean IPOs greeted 2014, but this year there was none.

Singapore-domiciled companies tapping the equity capital markets (ECM) raised a total of $146.6 million so far this year, an 80.8% decline in proceeds compared to the first quarter of 2014 (US$764.8 million). This is the slowest start to a year since 2003 (US$73.4 million) for Singapore ECM activity.

So far this year, capital raisings by Singapore companies were done only through follow-on offerings. There have been no initial public offerings from Singaporean companies in local or foreign stock exchanges so far this year compared to at least five Singaporean IPOs in the first of 2014.