Sliver of hope for Singapore IPO market as karaoke chain, interior decoration firm mull Catalist listings

SINGAPORE’S barren spell for initial public offerings (IPOs) could come to an end, as two companies in late September lodged their preliminary offer documents for listing on the Catalist board of the Singapore Exchange (SGX).

This offers a sliver of hope for Singapore’s equities market, which is the worst-performing market in South-east Asia for IPOs this year.

The city-state had just one IPO in the first three quarters of the year, with cancer treatment provider Singapore Institute of Advanced Medicine Holdings’ Catalist listing in February raising gross proceeds of S$26.2 million or net proceeds of S$21.7 million.