Singapore’s initial public offering (IPO) market this year has so far been modest in scale, but investors in these new listings have good reason to smile.
Only five firms have listed to date this year, raising a fairly underwhelming $414 million between them – a far cry from the eight IPOs worth about $8 billion at the same point last year.
But the good news is that all five companies are still trading above water. At Wednesday’s market close, the five listings were between 10 per cent and 60 per cent above their IPO price.
‘IPOs are usually very sentiment- driven. For those that listed last month, they chose the right time to list,’ said remisier Desmond Leong.