SINGAPORE (Jan 10): Singapore’s IPO performance improved significantly in 2019 in terms of the to­tal funds raised. A total amount of $3.1 billion was raised during the year, which was more than fourfold the $730 mil­lion raised in 2018. However, other statistics are painting a worrying picture, which may suggest that Singapore’s attractiveness as a listing des­tination is staying muted.

Last year, the total number of IPOs fell to 11 from 15 in the year before. Of the 11 IPOs, sev­en are listings on the Catalist board of the Singa­pore Exchange (SGX), raising a total of just $59 million. This compares to 12 and 13 Catalist list­ings in 2018 and 2017, respectively, with total IPO amounts raised of $174 million and $273 million.

On the Mainboard, there were no listings in 2019 except for real estate investment trusts (REITs) and one business trust. This compares to two and three non-REIT and non-trust Main­board listings in 2018 and 2017, respective­ly, which raised $134 million and $298 million.

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