Higher cost of capital a challenge for SGX IPO landscape as Reits, Spacs face lower valuations
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INITIAL public offering (IPO) activity on the Singapore Exchange (SGX) could remain muted in 2023 as real estate investment trusts (Reits) adjust to the realities of lower valuations in a higher interest rate environment.
SGX welcomed 11 new listings in 2022. The companies raised a total of S$580.3 million, according to bourse data.
The number of IPOs was more than the eight seen in 2021, but most of the listings last year took place on the junior Catalist board.
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