SINGAPORE (Jan 3): Singapore ended the past year with a total of 20 initial public offerings (IPOs) and $4.7 billion of total funds raised – the highest in the past four years and a stellar showing for 2017, according to a report launched today by PricewaterhouseCoopers (PwC).

The latest full-year record for total funds raised through IPOs is double than that of 2016 and led by the listing of NetLink NBN Trust, which raised approximately $2.4 billion in gross proceeds, making it the largest IPO listing the local equity capital market has seen in six years.

In a Wednesday release, the professional services firm also notes a total of 30 follow-ons (FOs) which took place over the year, which raised a combined gross proceed sum of approximately $3 billion – with a majority 81% of contributors being REITs and business trusts (BTs).

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