Proceeds from equity capital markets down 24.4% YTD

A total of $4.5b has been raised so far.

Singapore-based companies' proceeds from equity capital markets (ECM) fell 24.4% YoY to $4.5b (US$3.3b) YTD.

According to Thomson Reuters, follow-on offerings from Singaporean issuers raised $1.8b (US$1.3b) in proceeds, down 8.1% YoY.

Follow-on offerings accounted for 38.8% of ECM so far this year, whilst initial public offerings (IPO) captured 61.2% market share in terms of proceeds.

So far, a total of 15 IPOs have been launched by Singapore companies in domestic and overseas stock markets, raising $2.7b (US$2b) in proceeds. This is down 26.4% YoY.

Here's more from Thomson Reuters:

NetLink NBN Trust, a unit of Singtel, launched its IPO in the Singapore Exchange mainboard, raising US$1.7 billion (S$2.3 billion) in proceeds.

This is the biggest Singaporean IPO since Mapletree Greater China Commercial Trust’s US$2.1 billion (S$2.5 billion) listing in February 2013.

DBS Group currently leads the ranking for Singapore ECM underwriting with US$754.2 million in related deals, capturing 23.1% of the market share.

HSBC Holdings and UBS rounded out the top three bookrunners with 9.8% and 9.8% market share, respectively.

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