Singapore's IPO proceeds predicted to soar 39% to $1.7b in Q3

SGX ranks 3rd globally by IPO proceeds.

According to Ernst & Young, several IPO markets in Asean have been active, particularly Singapore. The country ranks second, after US, by capital raised, with proceeds expected to reach US$1.7b in the quarter, up 39% from Q2 2013.

The Singapore Exchange saw four deals raising US$1.5b and ranks third globally by IPO proceeds. Singapore Catalist saw seven deals that raised US$137.9m in Q3 2013, up significantly from a deal that raised US$4m in the last quarter.

Overall, there are 78 IPOs expected on Asian exchanges, with proceeds of US $6.4b in Q3 2013. This would account for 40% of the global number of deals and 26% by capital raised.

Deal number is expected to be 26% higher from Q2 2013 but capital raised is expected to fall by 59% from Q2 2013 (62 IPOs, US$15.6b).

Real estate is expected to be the most active sector by deal number and capital raised (11 IPOs raising US$2.1b). Consumer staples (7 IPOs, US$1.5b) and energy (9 IPOs, US$0.9b) sectors are expected to lead by capital raised.

Max Loh, EY’s Asean and Singapore Managing Partner commented: “The ongoing suspension of new listings on mainland China exchanges has affected IPO activity level in Asia.

A drop in IPOs in Japan, following a blockbuster Q2, also weighed on total proceeds in Q3. Activity on other exchanges also softened, reflecting weaker economic and market conditions, though Singapore was one exception, with expected proceeds in Q3 2013 up 39% on Q2 2013 to US$1.7b, on several REIT offerings.”

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