It was also no coincidence that back in 2012, Australia-based Civmec finished the year as Singapore's strongest performing IPO of the year. The same month that Civmec listed, the IMF predicted that Australia would be the best-performing major advanced economy in the world over the next two years. For many sectors, economic growth comes in cycles, which affects the timing of capital raising to fuel corporate growth.
Even TrickleStar, which listed on Catalist in June last year commented in its H1FY19 financial report that the most significant factor its management faced was the continued imposition of tariffs by the Trump administration.