SGX 2017’s IPO Fund Raisings Have Doubled 2016 Levels
Over the first 11 months of 2017, there have been 23 new listings on SGX, including 19 IPOs, three RTOs and one GDR. Funds raised by the 19 IPOs totalled S$4.6 billion – double the S$2.3 billion in fund raisings in 2016. The 19 IPOs consisted of seven Mainboard listings and 12 Catalist listings. The seven Mainboard offerings have averaged a 6% price gain from initial offer prices, whilst the 12 Catalist stocks averaged a 68% gain from initial offer prices. The average return of the 12 Catalist stocks includes outlier performances of Samurai 2K Aerosol and UnUsUaL. The median gain of the 12 stocks was 7%. The most recent addition to the Catalist Board, was No Signboard Holdings which closed 4% above its offer price.