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Equity fund-raising picks up for Singapore-based companies in H2

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Singapore-domiciled companies tapping the equity capital markets have raised US$2.4 billion so far this year.

SINGAPORE-DOMICILED companies tapping the equity capital markets have raised US$2.4 billion so far this year, a 79.3 per cent jump from the US$1.3 billion raised in the first half of 2015, data from Thomson Reuters showed on Tuesday.

This was largely boosted by the Hong Kong initial public offering (IPO) of Singapore-based BOC Aviation, which raised US$1.1 billion.

The second quarter of this year also saw two IPOs priced for Singapore Exchange. Frasers Logistics and Industrial Trust raised some US$935 million in its public offering, the biggest IPO since Asian Pay Television Trust's US$1.1 billion IPO in 2013. Manulife US Reit's IPO raised US$493 million from its second listing attempt.

Singapore-listed equity offerings - combined IPOs and follow-on offerings listed in Singapore's stock exchanges - have totalled US$1.4 billion so far this year, a 65.2 per cent increase in proceeds after "a really slow start" during the first half of 2015, Thomson Reuters said.

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The pipeline for new listings in Singapore looks healthy for this year, said the data provider, citing IPOs from Singapore-based Equis Funds Group and Fullerton Healthcare, and China-based EC World Reit and Greenland Holdings Reit.

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