SINGAPORE (Dec 20): Funds raised through initial public offerings (IPOs) in Singapore have fallen to the second-lowest level in a decade since the global financial crisis in 2008, according to a report by PwC.

According to PwC’s Equity Capital Markets Watch – Singapore: 2018 year in review report, the Republic has seen a total of 15 IPOs so far this year, raising approximately $0.73 billion. This is a far cry from the $4.7 billion raised via 20 IPOs a year ago.

The worst IPO showing over the past 10 years was in 2015, which saw a low in market capital activity due to declining global oil prices and increased competition from other Southeast Asian bourses.

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