initial public offering (IPO)

Hong Kong loses 3 tech IPOs to Shanghai

(Apr 12): China’s efforts to keep its next tech superstars at home are showing some early signs of success.

Since March, Qingdao Haier Biomedical Co., Sun Car Insurance Agency Co. and Certusnet Information and Technology Co. have scrapped plans to list in Hong Kong and are expected to debut on Shanghai’s new board instead. While the Chinese city is yet to attract any of the country’s mega startups, it’s a vote of confidence from entrepreneurs after regulators said the venue will have looser rules for initial public offerings.

Catalist debutant Fortress Minerals to ride on China's rising demand for steel mills, says UOB

SINGAPORE (Mar 25): UOB KayHian says upcoming market entrant Fortress Minerals (FMIL SP) is well positioned to ride on increasing demand from Chinese steel mills.

Fortress Minerals is a 37%-owned associate of Malaysia-listed Selangor Dredging Bhd, an investment firm with property development businesses in Malaysia and Singapore.

The company produces high-grade iron ore concentrate mined from its Bukit Besi mine at Terrangganu, Malaysia, with an estimated output capacity of 40,000 wet metric tonnes per month.

Far East acquires local air-con services firm for $7 mil; to spin it off in Catalist listing

SINGAPORE (Mar 5): Far East Group announced that it has acquired the entire issued and paid-up ordinary shares in M-Tech Air-Con & Security Engineering.

The vendors are Quek Poh Chuan and Lee Sui Fook and the consideration for the acquisition is $7 million including 2.98 million new M-Tech shares.

M-Tech's core business is to provide Air Conditioning and Mechanical Ventilation (ACMV) services for residential and commercial buildings. It has an issued and paid up capital of $0.5 million divided into 0.5 million ordinary shares.

What is the future of the Singapore stock market?

Amid the slow pace of IPOs, the lure of private-equity funding, and a string of corporate scandals, it might seem like the local stock market has seen better days. Our distinguished roundtable panellists do not entirely share that perspective, but they do see some big challenges ahead.

SINGAPORE (Nov 26): The health and vibrancy of the local stock market has always been close to the hearts of everyone at The Edge Singapore. Our reporting on the corporate sector has traditionally been done from the perspective of stock market investors.

Will 2019 be a blockbuster year for tech IPOs?

SINGAPORE (Jan 14): Not since late 1999 and the first few months of 2000, at the height of tech and dotcom bubble, has there been such a long line-up of tech firms seeking a listing on the stock market. Unlike the heady days at the turn of the century, when even made it to the tech-heavy Nasdaq, this year’s list is formidable.

Singapore IPO funds raised in 2018 falls to second lowest since financial crisis

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.

Biolidics shares slump on Catalist debut

SINGAPORE (Dec 19): Just two hours into its debut on the Singapore Exchange (SGX) Catalist board, shares in medical technology firm Biolidics have slumped 23.2% from its listing price of 28 cents.

The stock on Wednesday opened 5.4% lower than its IPO price at 26.5 cents. As at 11.15am, Biolidics is trading at 21.5 cents, with some 4 million shares having changed hands.

The world's top IPO venue for 2018 sees worst returns in decade

(Dec 19): Hong Kong is host to the world’s busiest venue for initial public offerings this year. And the worst losses in a decade.

A boom in technology listings has propelled local deal value to US$35.7 billion ($49.1 billion), ahead of the New York Stock Exchange, according to data compiled by Bloomberg. Yet companies that raised at least US$100 million dropped 6.2% in their first month of trading on average, the worst return since 2008. Weighted by IPO size, losses reached a record 6.9%, according to data going back to 1994.

Asean IPO activity may rebound in 2019, depending on these factors

SINGAPORE (Dec 17): After a lacklustre 2018, Asean markets stand a chance of seeing higher levels of initial public offering (IPO) activity next year – but only if there is a turnaround in economic fundamentals which lead to greater geopolitical certainty, better trade relations, and an increase in liquidity.

Should fundamentals remain as they are, it may be until only 2H19 that Asia-Pacific IPO markets see a sustained improvement in activity.

Singapore M&A deals to cool as global trade concerns continue into 2019: Baker McKenzie

SINGAPORE (Dec 17): Following a strong year of merger and acquisition (M&A) activity – largely thanks to Nesta Investment Holdings’ US$11.6 billion buyout of Global Logistic Properties (GLP) – Singapore is forecast to see a modest cooling in total M&A, from US$36 billion this year to about US$26 billion in 2019.

This is according to Baker McKenzie’s new Global Transactions Forecast 2019 report, which is based on forecast macroeconomic indicators from Oxford Economics along with insights from Baker McKenzie partners in 42 markets worldwide.

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