It’s been a tepid year for initial public offerings (IPOs) in Singapore.
According to data from Singapore Exchange Limited (SGX: S68), or SGX, a total of just S$10 billion was raised from IPOs in its fiscal year 2020 (FY2020) ending 30 June 2020.
Interest has remained moribund thus far for FY2021, with the year-to-date amount raised equalling what was raised last year.
By comparison, FY2019 saw a total of S$20 billion raised, twice FY2020’s amount, from IPOs.
That said, there are signs that the IPO market may be warming up again.
As the recovery takes hold across the world, improved sentiment has pushed more businesses to consider tapping on capital markets to raise money.
On the REIT and business trust front, Digital Realty Trust (NYSE: DLR) is mulling a possible US$300 million IPO of 10 of its data centres.
Earlier this month, City Developments Limited (SGX: C09), or CDL, confirmed that it had applied for an IPO of its UK commercial assets...