Singapore Posts Lowest Number of IPOs Since 2011

MT Newswires2024-12-19

The Singapore Exchange recorded four initial public offerings during 2024, the lowest since 2011, according to a report by PricewaterhouseCoopers on Tuesday.

However, according to PwC, which started tracking IPO data in 2011, there are likely to be more listings in 2025.

The total amount of funds raised dropped to $30 million in 2024, the same amount as in 2023 but much lower compared with the $430 million raised in 2022 and $1.22 billion in 2021.

The lackluster year in terms of IPOs was mainly due to an absence of REIT listing from 2022 to 2024.

The largest IPO in the city-state was of Singapore Institute of Advanced Medicine (SGX: 9G2) which raised $19.5 million.

Food Innovators (SGX:KYB) raised $2.4 million, Attika Holdings (SGX:53W) raised $3.5 million while Goodwill Entertainment Holding (SGX:GEH) raised $2.4 million.

However, PwC predicted an uptick in IPOs in Singapore for 2025, mainly from the healthcare and real estate sectors.

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