SGX loses $6.1b market cap in delistings

18 companies pulled out from the securities market.

The local bourse lost $6.1 billion YTD in total market capitalisation as delistings rise to 18 from January to August 2016.

Data from Singapore Exchange revealed that the month of June had the highest number of delistings so far with five companies exiting the market and contributing $845 million in market cap loss. The largest loss recorded was in August at $2.4 billion or about 40% of total YTD losses. This involved three companies namely China Merchants Holdings-Pacific ($1.5 billion), Osim International ($912 million) and Pacific Healthcare Holdings ($4 million).

The losses due to delistings, however, was offset by 17 new listings this year as at August 31 amounting to $6.4 billion in market cap at IPO and generating $2.3 billion in funds. REITs were the top fundraisers with Frasers Logistics and Industrial Trust as the largest deal with $928 million of funds raised, followed by Manulife US Reit ($648 million), and EC World Reit ($346 million).

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