Listing laggard: SGX slumps with only six small IPOs in July

Last year’s IPOs were almost three times larger.

It seems that firms were not too keen to get listed on the Singapore Exchange in July. The SGX’s is a laggard when it came to IPOs in July, as only six IPOs were launched on the exchange in the past month.

Together, these IPOs raised $508 million, compared with 8 listings which raised $1.5 billion a year earlier.

Meanwhile, total traded value was S$21 billion, 24% down from a year earlier, but up 2% month-on-month. Daily average value was down 20% to S$ 954 million year on year and 2% down month on month. July 2014 had 22 trading days compared with 21 in June 2014 and 23 in July 2013. Total market capitalisation increased 6% year on year to $1.0 trillion.

Here’s more from the SGX:

A total of 51 bond listings raised S$21 billion in July, compared with 29 raising $11 billion a year earlier. The biggest bonds listed included US$2 billion issue from Sumitomo Mitsui Banking Corporation and the EUR1 billion Indonesian sovereign bond. Outstanding bonds listed on SGX totalled 1,773, up 21% year on year.

Total derivatives volume was unchanged at 8.9 million contracts in July from a year earlier and up 3% month on month.

The China A50 futures was the most active contract, with 3.2 million contracts traded, up 85% from a year earlier. Volume of the India Nifty futures was 1.6 million contracts, up 29% year on year while the MSCI Taiwan futures volume was down 15% at 1.6 million contracts. Nikkei 225 futures volume was down 45% at 1.5 million contracts.

Volume of SGX foreign exchange futures tripled from a month earlier to 43,000 contracts. Volume of new OTC SGD interest rate swaps cleared was S$4.2 billion, doubling month on month but 19% lower year on year.

Total commodities (OTC and futures) volume totalled 211,537 contracts, double that of a year earlier.

Total Asiaclear futures volume was 172,757 contracts, triple the volume a year earlier. Total volume of iron ore derivatives (futures, options and cleared swaps) was 157,673 contracts, three times the volume a year earlier.

SGX rubber futures saw a total of 38,780 contracts traded, a 20% increase year on year.