initial public offering (IPO)

Private equity changing capital market landscape

SINGAPORE (July 22): More often than not, high-profile deals around the globe involve a private equity firm. This alternative asset class has been around for decades, but its rise to prominence in recent times shows that it has become an integral component of the capital market.

In 1H2019, there were 1,494 global private equity buyouts valued at US$245.1 billion ($332.5 billion), according to Mergermarket. In Southeast Asia, there were 16 deals valued at US$1.49 billion. At least two of the deals were in Malaysia.

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ThaiBev under siege after Budweiser shelves IPO

(July 15): Thai Beverage PCL’s crown as top performer in Singapore this year is under siege after rival Anheuser-Busch InBev NV shelved the initial public offering of its Asian unit to raise up to US$9.8 billion ($13.3 billion).

Greed and loathing in the IPO market

SINGAPORE (July 15): The Standard & Poor’s 500 has breached 3,000 for the first time — but the market for IPOs is certainly not celebrating.

The world’s biggest stock sale of the year looks likely to price at the lower end of its price range, and a big UK listing has just been pulled. Rising markets may be making issuers greedy. Buyers of IPOs are mean.

Companies going public face two headwinds. Stocks are increasingly owned by passive funds: Greater flows into indexes may push these benchmarks up indiscriminately, but active funds are dwindling as a force.

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Prime US REIT launches largest IPO year-to-date; selling units at $1.20 each

SINGAPORE (July 8): KBS US Prime Property Management, the manager of Prime US REIT, has registered its final prospectus with the Monetary Authority of Singapore (MAS) in relation to its proposed offering and listing of units in Prime US REIT on the Mainboard of SGX.

This is expected to be the largest IPO on the Singapore Exchange year-to-date with market capitalisation of US$813 million ($1.1 billion). 

REIT IPOs lack institutional support and liquidity, say REITAS office bearers

SINGAPORE (July 3): While real estate investment trusts have been able to raise equity to acquire properties, REIT Association of Singapore (REITAS) secretary Jerry Koh laments that market liquidity is sorely lacking.

“Structurally, our Singapore market lacks liquidity. This affects valuation and it’s a negative cycle. One of the suggestions I had was to encourage private funds or funds dedicated to investing in Singapore securities to provide liquidity for local stocks,” Koh says in a media briefing on July 2.

SGX ranks among top 10 exchanges in IPO proceeds for 2Q: EY

SINGAPORE (June 27): The Singapore Exchange (SGX) ranked 10th among exchanges around the world in terms of initial public offering (IPO) proceeds for 2Q19, thanks to sizeable IPOs by two real estate investment trusts.

During the quarter, ARA US Hospitality Trust (ARAUS) and Eagle Hospitality Trust (EHT) led the way for SGX with IPOs that raised gross proceeds of US$498 million ($679 million) and US$453 million, respectively.

Osteopore has 'secret recipe' to regrow bones

Homegrown medtech firm taps unique technology to capture multi-billion dollar bone regenerating market

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Briefs

SINGAPORE (June 17): “We remain firmly committed to our growing traditional meat business and expect to be a market leader in alternative protein.”Noel White, CEO of Tyson, a leading producer of meat.

Alibaba’s giant IPO

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ST Group to launch IPO on Catalist Board

SINGAPORE (June 11): ST Group Food Industries, a food and beverage group headquartered in Australia, has launched its preliminary offer document with Singapore Exchange (SGX) to list on the Catalist Board.

ST Group currently owns the exclusive franchise and licence to six internationally F&B brands or concepts in Australia, Malaysia, New Zealand and United Kingdom.

South Korean firm Yanolja that reinvented love hotels gets GIC, Booking funding

(June 11): Yanolja’s gentrification of South Korean love hotels has brought the company a valuation of more than US$1 billion ($1.4 billion) from investors keen to capitalise on the globalisation of a novel approach to short-stay accommodation, its chief executive told Reuters.

The budget hotel and online booking platform operator reached the valuation having secured US$200 million from US peer Booking Holdings Inc and Singapore sovereign wealth fund GIC Pte Ltd, CEO Kim Jong-yoon said.

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