SG sees companies look beyond SGX for IPOs in H1 2025

Only one Singapore-headquartered company chose to list domestically.

Regional companies are increasingly shifting their listing strategies by pursuing cross-border opportunities and moving away from Singapore, according to an EY report.

The report found that all but one Singapore-headquartered company chose to list domestically during the first half of the year.

On a regional basis, ASEAN’s initial public offering market faced significant headwinds during the period, with listings declining 27% year-on-year to 48 offerings.

Despite the sharp decline in activity, proceeds held steady, with $1.8b (US$1.4b) raised.

However, the report said Singapore’s prospects may be poised for a turnaround as Central bank and government reforms could boost IPO activities in 2026.

“Growing US-China geopolitical tensions may further enhance Singapore’s market position, whilst a strong Singapore Exchange cluster performance and new secondary listing rules may attract more regional cross-border listings,” EY said.

($1=US$0.77)