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Tuesday, 1 February 2011, 18:00 HKT/SGT
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Source: Singapore Exchange (SGX)
2010 IPO Market Capitalisation Up 5-Fold and Record Year for Bond Listings at Singapore Exchange

SINGAPORE, Feb 1, 2011 - (ACN Newswire) - Singapore Exchange (SGX), Asia's most international listing venue, recorded a five-fold jump in its IPO market capitalisation for 2010 compared to the year before. SGX welcomed 39 new IPOs in 2010 (29 IPOs in 2009), on the Mainboard and Catalist, raising a total of $11 billion and expanded the market capitalisation by $51 billion ($10.4 billion in year 2009), bringing the total market capitalisation of the Exchange to $ 902 billion.

- Total IPO market capitalisation recorded more than $50 billion
- Number of IPOs up 26%; Over $11 billion raised in 39 IPOs
- Record number of 277 bond listings amounting to $140 billion in notional value
- SGX strengthens its role as the preferred listing gateway to Asia

Acive Fund Raising

"The 39 IPOs have further strengthened our listing position as the Asian Gateway. Our sector strengths in maritime and offshore, REITs and property trusts, resources and commodities, resonate well with many companies seeking expansion into Asia. In particular, the number of large listings from Asia and Europe expanded the breadth and depth of our marketplace, and reflects efficiency of our capital market. We will continue to enhance our attractiveness as a capital-raising venue for global companies in Asia," said Mr Lawrence Wong, Head of Listings, Singapore Exchange.

Some of the high-profile IPOs in 2010 include home-grown airline TigerAirways, leading European offshore designer and shipbuilder - STV OSV Holdings, the world's largest real estate IPO - 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 China's leading companies such as Xinren Aluminum Holdings and China Minzhong Food. The year also saw the secondary listings of Prudential Plc and Golden Ocean Group adding $29 billion to our market capitalisation.

Secondary capital raising activities continued to be active in 2010 with listed companies raising about $ 6 billion.

As at end 2010, SGX has 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 our listed companies, and about 47% of the capitalisation of the market.

Record Year for International Bond Listings

SGX is also recognised as Asia's leading listing venue for international bonds. As at end of 2010, over 1300 bonds, with more than $500 billion notional value, were listed on SGX. In 2010 alone, SGX recorded a total of 277 bond listings amounting to $140 billion in notional value. These bond listings have drawn greater market participation from various pools of investors and added to the attractiveness of the Singapore capital market.

As part of the ongoing efforts to improve liquidity and efficiency of its bond market, SGX streamlined its bond listing process to a fast turnaround time of 48 hours for wholesale bond listings and 2 weeks for retail bond listings. SGX introduced initiatives to attract liquidity providers for its market, and rolled out investor education programmes for the retail segment. The oversubscription of recent retail bond issues attest to the strong demand from individual investors for fixed income securities in Singapore market.

Sectoral Strengths

SGX's key sectors of maritime & offshore, natural resources, and REITs and property trusts were also boosted with additional listings.

With Singapore as a global leading offshore and maritime hub, SGX's capital market has attracted 35 maritime and offshore listed companies with combined market capitalisation of $ 61 billion.

SGX's vibrant REIT market is home to 22 REITs and 3 property trusts with a combined market capitalisation of $38 billion. In addition, SGX has 42 real estate companies with total market capitalisation of $95 billion.

The SGX commodities and resource sector comprises 17 companies with a total market capitalisation of $ 79 billion. This includes Wilmar International Limited, which is the largest listed global processor and mechandiser of palm and lauric oils, with a market capitalisation of $ 36 billion (end 2010).

Initiatives

On 22 October 2010, SGX launched the quotation and trading of 19 Asian Depositary Receipts (ADRs) on its GlobalQuote board, in collaboration with NASDAQ-OMX. For the first time, investors can trade these ADRs of major Chinese companies in the Asian time zone. SGX will continue to add to its suite of ADRs to offer customers broader investment opportunities.

With effect from 1 January 2011, SGX rule changes made permanent the shortened time-to-market to for secondary fund-raising for its listed companies. These measures were first introduced in 2009 as temporary actions to assist companies to raise capital efficiently.

SGX appointed Mrs Paulina McGroarty as Head of Europe, Middle East and Russia to reach out to companies from these regions that seek to tap the Asian capital markets.

Commitment to Corporate Governance Practice

SGX's continued commitment and efforts in raising corporate governance standards was acknowledged by the industry. In the 2010 study by CLSA Asia-Pacific Markets (CLSA) and the Asian Corporate Governance Association (ACGA), Singapore attained the top position for corporate governance in Asia. In the same study, SGX was commended for taking leadership during the financial crisis on heightened vigilance in higher-risk areas, actively enforcing its rules and taking the appropriate regulatory actions.

SGX will continue to benchmark against global developments and enhance our practices, where appropriate, to uphold investor confidence in Singapore as a financial hub, and in SGX as the Asian Gateway.


About Singapore Exchange (SGX)

Singapore Exchange (SGX) is the Asian Gateway, connecting investors in search of Asian growth to corporate issuers in search of global capital. SGX represents the premier access point for managing Asian capital and investment exposure, and is Asia's most international exchange with about 40% of companies listed on SGX originating outside of Singapore. SGX offers its clients the world's biggest offshore market for Asian equity index futures, centred on Asia's three largest economies - China, India and Japan.

In addition to offering a fully integrated value chain from trading and clearing, to settlement and depository services, SGX is also Asia's pioneering central clearing house. Headquartered in Asia's most globalised city, and centred within the AAA strength and stability of Singapore's island nation, SGX is a leading Asian counterparty for the clearing of financial and commodity products. For more information, please visit www.sgx.com.

Contact:
Joan Lew
Communications
Tel : +65 6236 8658
Email : [email protected]

Magdalyn Liew
Communications
Tel: +65 6236 8157
Email: [email protected]


Feb 1, 2011 18:00 HKT/SGT
Source: Singapore Exchange (SGX)

Topic: Production report
Sectors: Daily Finance, Daily News
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