SINGAPORE (Dec 31): The IPO market for 2018 showed a marked decline from the year before — this was somewhat unexpected, as markets had rallied at the start of the year.

This year, there were 15 new listings, raising a total of about $730 million. The last issue was the Dec 19 trading debut of Biolidics, a medical technology company, which raised $7.7 million.

By contrast, 20 companies, real estate investment trusts and trusts were listed in 2017, drawing new funds of $4.6 billion. High-profile issues of 2017 included Netlink NBN Trust, which raised more than $2.4 billion, Keppel KBS-US REIT and Mindchamps Preschool, which raised US$448 million ($613 million) and $50 million respectively.

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