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EQUITY-BASED fund raising by Singapore-domiciled companies in the first half of 2017 is on track for a 62 per cent slowdown from a year ago, with just US$1 billion raised so far, according to data from Thomson Reuters.
Most of the equity capital raising from Jan 1 to June 22 was through follow-on offerings, with US$806.1 million raised.
Initial public offerings (IPOs) from Singapore-domiciled companies raised US$243 million in proceeds, down 90 per cent from the first half of 2016.
The Singapore Exchange itself drew US$968.6 million of IPO proceeds and follow-on offerings raised, a 45.5 per cent year-on-year decline. HRnetGroup's US$126 million deal was the biggest IPO so far this year.