Singapore Exchange (the SGX), which labels itself as Asia’s most international listing venue, recorded a five-fold jump in its IPO market capitalization in 2010 as compared with 2009. The SGX welcomed 39 new IPOs in 2010 (29 IPOs in 2009), on the main board and on second board Catalist, raising a total of S$11 billion. It also expanded its market capitalization by S$51 billion (S$10.4 billion in 2009), bringing the total market capitalization of the Exchange to S$902 billion.
Some of the largest IPOs on the SGX in 2010 have included those by home-grown airline TigerAirways; European offshore designer and shipbuilder STV OSV Holdings; the world’s largest real estate IPO by Global Logistic Properties; the world’s largest Shari’ah compliant REIT, Sabana Shari’ah REIT; one of the world’s largest palm oil processors, Mewah International, and Chinese companies such as Xinren Aluminum Holdings and China Minzhong Food. 2010 also saw the secondary listings of Prudential Plc and Golden Ocean Group.
Secondary equity capital raising activities totaled about S$6 billion.
As at end 2010, the SGX had a total of 782 listed companies, of which 321 companies were from overseas, hailing from greater China, Japan, Korea, southeast Asia, Australia, India and Europe. These accounted for more than 40% of listed companies, and about 47% of the capitalization of the market.
The SGX’s key industry sectors, as mentioned in the 2010 review, are the maritime and offshore, natural resources, and REIT and property trust segments.
With Singapore as a global leading offshore and maritime hub, the SGX has attracted 35 maritime and offshore listed companies, with a combined market capitalization of S$61 billion.
The SGX is also home to 22 REITs and three property trusts, with a combined market capitalisation of S$38 billion. In addition, SGX includes 42 listed real estate companies, with total market capitalization of S$95 billion.
Meanwhile, the SGX’s commodities and resource sector comprises 17 companies with a total market capitalization of S$79 billion. This includes Wilmar International Limited, which is the largest listed global processor and merchandiser of palm and lauric oils, with a market capitalization of S$36 billion (at end 2010).