initial public offering (IPO)

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 Pets.com 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.

MeGroup launches IPO today at 23 cents per share; to list on Oct 31

SINGAPORE (Oct 23): MeGroup, the Malaysian-based car dealership and automotive parts maker, which is seeking a listing in the Catalist board of the Singapore Exchange (SGX) launched its initial public offering (IPO) today with the sale of each share at 23 cents.

The group will be offering a total of 16.5 million new shares, with 1.5 million shares in the public tranche and 15 million shares in the placement tranche. The IPO is expected to raise net proceeds of about $2.4 million.

Cennerv lodges prelim offer documents for Catalist listing, to acquire US subsidiary with proceeds

SINGAPORE (Sept 21): Cennerv Pharmaceuticals on Wednesday lodged its preliminary prospectus ahead of its planned initial public offering (IPO) on the SGX Catalist board.

Cennerv is a Singapore-based pharmaceutical developer specialising in treatments for central nervous system (CNS) disorders with a focus on depression, insomnia, dementia, schizophrenia and autism.

The company intends to use a portion of its proceeds from the exercise to acquire a further 13 million units of Gemeni Therapeutics LLC, a US-based drug development company, for US$200,000 ($272, 700).

Self-driving cars will beat some short-haul flights: Volvo

(Sept 6): Volvo Cars is taking aim at the aviation industry, saying self-driving vehicles could eliminate the need for some short-haul flights.

The Gothenburg, Sweden-based carmaker on Wednesday unveiled a project to explore how autonomous vehicles can be used to shuttle people between cities, allowing them more time for rest, work and play instead of the hassle of flying.

China's Meituan Dianping sets HK IPO valuation at up to US$55 bil

(Sept 3): China’s Meituan Dianping, an online food delivery-to-ticketing services platform, has set an indicative price range of HK$60 to HK$72 ($10.48-$12.58) per share for its initial public offering (IPO) in Hong Kong, valuing itself at up to US$55 billion, four people with direct knowledge of the matter said.

Meituan, already one of China’s most valuable internet firms, could raise as much as US$4 billion ($5.5 billion) before the exercise of a “greenshoe” or over-allotment option, whereby additional shares are sold depending on demand.

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