Singapore IPOs raise US$39m in the first half of 2017

The volume of funding for this year could surpass 2016 levels.

Singapore’s Initial Public Offerings (IPOs) have raised US$329 million in H1 2017 according to latest figures by PwC Singapore.

According to PwC, the volume of IPO funds raised by the end of 2017 is likely to surpass 2016 levels with professional services leading the way as the sector with the most funds raised.

Two professional services IPOs – HRnetGroup and Shopper360 – have raised a total of US$134m, far ahead of the US$26m raised in 2016.

Singapore Exchange’s (SGX) traditional strength, Real Estate Industrial Trusts (REITs) and business trusts accounted for 33% of Singapore’s IPO proceeds. The expected listing of NetLink Trust of up to US$1.6 billion will likely bring the sector up and build momentum for the rest of 2017.

“Singapore’s H1 2017 numbers suggest that, apart from REITs and business trusts, niche sectors in the consumer space and professional services will be the next big growth opportunity for the local exchange. As SGX bolsters efforts in supporting technology start-ups, we can also expect to see more issuances from technology-driven activities," PwC Singapore capital markets leader Tam Tuck Seng said.