Tuesday, April 12, 2011

Singapore Exchange Ranks Third in Global IPO Update: Ernst & Young

US private equity-backed listings drove global IPO activity in the

first quarter, with the New York Stock Exchange (NYSE) taking the

lead, according to Ernst & Young’s first-quarter 2011 global IPO


However, Asia still dominated the listings, with the Shenzhen Stock
Exchange and Singapore Exchange (SGX) ranking second and

third respectively in terms of total capital raised globally.

Ernst & Young said the last few weeks of the quarter saw choppy

stock markets spiked by the Japanese disaster and Middle Eastern

political unrest. This slowed down the overall pace of global IPO

activity, particularly in Europe, Middle East, India and Africa, it said.

However, the professional services giant said in a statement that

there is still a healthy pipeline of companies wanting to tap into the

capital markets.

In the first three months of the year, global IPO activity saw 290

deals worth US$46.1 billion, down 14 per cent compared with the

same period last year.

For the first time since 2008, the NYSE took the lead among the

world’s exchanges, raising US$13.8 billion of the total capital,

followed by the US$11.2 billion raised on the Shenzhen Stock

Exchange and US$5.6 billion raised by the Singapore Exchange.

SGX’s figure was mainly due to Hutchison Port Holdings’ initial

public offering that raised US$5.5 billion.

Ernst & Young said the listing of Hutchison Port Holdings has

boosted SGX’s standing, and reflects the exchange’s strength in

sectors such as shipping and maritime, commodities, REITs and

business trusts.

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