IPO proceeds fall 97% YoY in 2022: EY

Proceeds fell despite no change in the number of IPOs.

Despite having the same number of IPOs in 2022 at eight, Singapore was unable to hit proceeds of above US$0.1b.

According to data from EY, the Lion City's IPO proceeds in 2022 dropped 97% YoY from 2021, when it raised US$1.3b from eight listings.

Whilst having lower proceeds, Singapore remained to be amongst the top destinations for Special Purpose Acquisition Company (SPAC) IPOs in Asia-Pacific, ranking third.

Singapore had three SPAC three listings and raised US$345m of proceeds.

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