Singapore IPOs Raise $45.9m in First 10.5 Months of 2024

Singapore's initial public offerings (IPOs) have raised approximately $45.9m (US$34m) in the first 10.5 months of 2024, according to Deloitte. This figure represents a significant decline from the $7.8b (US$5.8b) raised across 163 IPOs in 2023. Several factors have contributed to this decrease, including global economic uncertainty, interest rate policies, and market volatility. To stimulate future growth, Singapore can foster a supportive regulatory environment, encourage cross-border listings, promote specific sectors, address market volatility, and monitor global trends.

The four listings in the Consumer, Industrial Products, and Life Sciences & Health Care industries indicate a diverse range of sectors seeking public funding. In the broader Southeast Asian IPO market, consumers and energy & resources are the top two sectors driving growth, accounting for 52% of the total number of IPOs and 64% of the total IPO funds raised. As global interest rates stabilize, investor appetite for income-generating assets like REITs is expected to strengthen, opening up new opportunities for growth in the real estate sector.

To further strengthen Singapore's IPO market, the government can encourage more listings from growth sectors, improve market access, foster a robust ecosystem for startups and SMEs, strengthen investor confidence, and promote Singapore as a global IPO hub. By implementing these strategies, Singapore can maintain its resilience amidst global economic uncertainty and political shifts.

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