Singapore draws just one IPO listing in H1

Vin’s Holdings Ltd. was the sole listing on the SGX, raised $6m.

Only Vin's Holdings Ltd. made an initial public offering (IPO) on the Singapore Exchange (SGX) in the first half of 2025, according to Deloitte’s 2025 Southeast Asia Mid-Year IPO Snapshot.

The company, which operates as an integrated automotive solutions provider, raised $6m during its IPO listing.

YLF Group Marketing, a confectionery company, withdrew its IPO application amidst unfavourable market conditions.

Deloitte reports that despite the subdued listing activity, momentum appears to be building in the second half of the year. Several encouraging lodgements occurred at the end of June, including the NTT DC REIT, which could potentially be one of the largest SGX listings in recent years.

Dezign Format Group, an interior-fit-out and design firm, also lodged a Catalist listing.

The Southeast Asia capital market recorded 53 IPOs in the first half of 2025, with almost $1.8b (US$1.4b) in IPO proceeds and achieving $9.8b (US$7.7b) in IPO market capitalisation.

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