In 1H2024, there was only one IPO. Singapore Institute of Advanced Medicine Holdings (SAM) listed on the Catalist board on Feb 16 at an issue price of 23 cents. On its first day of trading, the counter opened at 19.5 cents down 15.2% from its listing price, before closing at 19 cents. Its share price has plunged since then. As at Dec 10, shares in SAM closed at 5.8 cents, down about 75% from its issue price.
The Singapore market put up with yet another busy year of delistings, but with better certainty over interest rates, deferred and new listings are on the way
The Singapore market may be one of the top regional performers this year, with the Straits Times Index hitting 17-year highs. However, moribund listing activity and the continuing march of delistings at the same steady pace seen in the last few years have put a dampener on the bourse.
