Up to a dozen IPOs could come by year-end: SGX

IF the market stays buoyant, as many as 10 to 12 initial public offerings (IPOs) could be in the pipeline by the end of 2017, said senior executives from the Singapore Exchange (SGX) on Wednesday evening.

This would push the total number of SGX IPOs to the "high 20s" from the 18 already this year, said SGX chief executive officer Loh Boon Chye.

Executive vice-president Chew Sutat said that the upcoming IPOs span mainboard and Catalist firms across the real estate, education, consumer food and beverage, and services sectors.

"This is the result of momentum we've been building up for the last 18 months," he said.

Mr Loh and Mr Chew were speaking as SGX unveiled its financial results for the three months to Sept 30.

Revenue was up 7 per cent to S$204 million from a year ago, while net profit was up 9 per cent to S$91 million.

Earnings per share was up 9 per cent to 8.5 Singapore cents.

An interim dividend of five Singapore cents a share was declared.

Said Mr Loh: "Our expectation is for market momentum to continue."

SGX closed down one Singapore cent to S$7.57 before results were out.