STI at 3,450; trio of IPOs raises almost S$1b

THE five trading sessions spanning Nov 24 to 30 saw the Straits Times Index (STI) firm 0.3 per cent. The move brought the STI's dividend-inclusive return for the first 11 months of 2017 to 22.9 per cent, compared to an average 17.7 per cent return for the benchmarks of Japan, Hong Kong and Australia.

The three initial public offerings (IPOs) which debuted over the five sessions - MindChamps PreSchool, No Signboard Holdings and Cromwell European Reit - brought the total funds raised by the 19 IPOs in the 2017 year-to-date to S$4.6 billion, double that of the S$2.3 billion in IPO funds raised in 2016.

There were 11 stocks that conducted share buybacks over the five sessions with a total consideration of S$8.7 million, down from S$10.1 million over the preceding five sessions. OCBC Bank again led the buyback tally, accounting for more than four-fifths of the S$8.7 million.