Singapore’s initial public offering market saw a slowdown in the first half of 2021, with proceeds totalling $337m. Market capitalisation for the three IPOs in the first half stood at $1.11b.
In its mid-year review, Deloitte said that there is a trend in the Singapore IPO market where the first half is much slower than the second. The SGX has also become appealing to Southeast Asia-based firms that are listed in the United States. Sri Trang Gloves Thailand also had a secondary listing in the SGX in May 2021. The Thai firm is the third largest manufacturer and distributor of rubber gloves in the world.