Equity capital markets off to slow start, down 54.2% YoY

Of the total proceeds raised in 1Q24, US$458.95m were via follow-on offerings.

Singapore’s equity capital markets (ECM) had a sluggish start to the year, raising 54.2% YoY lower proceeds, totalling US$490.4m.

Of the total proceeds raised in 1Q24, US$458.95m (-40.1% YoY) were via follow-on offerings.

The remaining US$31.45m were from two IPOs issued by the Singapore Institute of Advanced Medicine (US$19.4m) in a Catalist listing and Ryde Group in a New York listing (US$12m).

Singapore Institute of Advanced Medicine’s listing was the biggest Singaporean-issued IPO so far in 2024, according to the London Stock Exchange Group (LSEG).

By sector, the largest contributor to Singapore’s ECM was the real estate sector, raising US$238.2m in proceeds and accounting for 48.6% of the market share. The real estate sector’s proceeds for the period, however, were down 13.0% compared to 1Q23.

Industrials and High Technology were close behind with 40.6% and 6.5% market share, respectively.

Also Read

COTD: APAC deal volume falls 6.8% amidst economic uncertainties and tensions

Securitisation seen as key for Singapore developers to enhance returns

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit