The Singapore Exchange (SGX) is a regional capital markets hub, with a significant number of listings by foreign, primarily Asian, issuers.
In 2017, initial public offerings in Singapore raised more than double the amount of proceeds in 2016, mainly in technology, construction, healthcare and real estate investment trusts. There was also an increase in the number of IPOs by Singapore-based companies from 21 in 2016 to 31 in 2017, raising a total of US$4.2 billion (a 52.7 per cent increase). IPOs accounted for 60.9 per cent of the total equity raised in Singapore. The largest IPO on the Mainboard in 2017 was a homegrown telecommunications company, raising US$1.7 billion of proceeds. However, applications for listings have generally declined over the past couple of years, and the strengthening of other South East Asian stock exchanges has had an impact on the number of South East Asian companies choosing the SGX over their domestic exchanges. Also, the SGX is expected to face more intense competition from the Hong Kong Stock Exchange, as the number of Singapore-based companies listed on the Hong Kong Stock Exchange has more than doubled in the past year from six in 2016 to 13 in 2017.