SGX has largest share of IPO money among 6 Southeast Asia stock markets: Deloitte

SINGAPORE Exchange (SGX) has the largest share of proceeds from initial public offers (IPOs) among the six Southeast Asia stock markets as of Nov 21, 2016, Deloitte Singapore said.

This is despite of global issues such as Brexit, 2016 US presidential election, uncertainty surrounding US Federal interest rate hike, and lower economic growth.

SGX, which had 16 IPO listings so far this year, resumed its top spot in the region - generating S$2.3 billion in IPO proceeds. The surge in the total capital raised was boosted by the listing of three real estate investment trusts (Reits) - Manulife US Reit, EC World Reit and Frasers Logistics and Industrial Trust. Together, they contributed S$1.9 billion of fresh funds.

Listings this year on the SGX bounced back from 2015 and contributed 16 per cent of total IPO listings in Southeast Asia, which is equivalent to 36 per cent of the total funds raised in the region in 2016, Deloitte said.

The top performing industries in the last three years are consumer business, real estate as well as energy and resources. Reits accounted for 61 per cent of total amount raised from all IPOs in the last three years.

"Overall, there is a strong uptrend in Singapore's IPO market, with confidence that this performance will continue into 2017, barring unforeseen circumstances," Ernest Kan, Deputy Managing Partner (Markets), Deloitte Singapore, said.