Market cap up 1.5% in July

Singapore

THE market capitalisation of Singapore-listed stocks rose 1.5 per cent month on month in July to S$985.7 billion, driven mainly by Catalist counters. The Catalist market cap grew 3.2 per cent to S$12.5 billion, while the mainboard market cap rose 1.5 per cent to S$973.2 billion.

Notably, among the companies that debuted on Catalist in July was fibre network infrastructure builder NetLink Trust, which raised S$2.3 billion in gross proceeds. NetLink's initial public offering (IPO) is the biggest IPO in Singapore since 2011 when Hutchison Port Holdings Trust raised about S$7.7 billion in gross proceeds.