新加坡IPO市场回暖 今年上市宗数有望超越去年

本地首次公开售股(IPO)活动显著回温,惟仍面临香港、马来西亚等亚太区域日益激烈的竞争。

FSM Global
FSM Global24 Sep 2026 10 Views
新加坡IPO市场回暖        今年上市宗数有望超越去年

新加坡首次公开售股(IPO)市场回暖,今年上半年有五家公司成功上市,集资规模在东南亚排名位居第二,仅次于邻国马来西亚。

国际咨询公司德勤(Deloitte)7月发布报告指出,今年上半年新加坡一共迎来五宗上市项目,明显多于去年同期的一宗;集资金额为8亿6800万美元,远高于去年同期的500万美元。

今年上半年在新加坡交易所主板上市的企业有UI宝德房地产投资信托(UI Boustead REIT)及共享办公空间业者JustCo;在凯利板挂牌的企业则有人工智能客户体验平台投酷有限公司(Toku Ltd.)、新加坡共享居住空间运营商The Assembly Place,以及体育活动策划集团亲国际有限公司(Kin Global Limited)。

不过,新加坡仍面临香港、马来西亚等亚太区域日益激烈的竞争。德勤资料显示,今年上半年马来西亚共有36宗新股上市,集资规模13亿4400万美元;香港则有78宗上市项目,集资规模2033亿港元。它们的表现都优于新加坡。

FSM Global 研究及投资组合管理部研究分析员高苑惠于9月中旬接受《联合早报》访问时指出,每个区域市场都拥有独特优势,香港市场的流动性颇高,且扮演着中国大陆企业与资本对接国际市场的踏板;马来西亚则为中小企业设下较宽松的上市门槛,因此上市宗数颇为可观。

至于新加坡,高苑惠说,除了具备金融市场稳定、监管透明等优势,我国也透过环球上市板(Global Listing Board)项目,通过统一的一套上市文件及简化的审核流程,降低企业同时在纳斯达克和新交所上市的复杂度,吸引企业在本地挂牌。

本地股市存在流动性不足问题

展望下半年,分析师认为,受到利率水平可能攀高、市场波动加剧和投资情绪趋于谨慎等因素影响,本地上市活动以及挂牌后股价表现或会受到冲击。

FSM Global 研究及投资组合管理部研究分析员潘哲川于7月中旬接受《联合早报》访问时说,由于通胀居高不下,若全球利率维持高位,新加坡也可能持续受到影响。这会连带压低股票估值,让企业对上市一事裹足不前。

此外,股票交易和流动性不足,是新交所的一大短板。高苑惠直言,流动性不足仍是结构性问题,中小型股首当其冲。她说:“流动性不足可能会削弱估值和投资者参与度,也让企业寻求上市的意愿下降。”

但她认为,在证券市场发展计划(EQDP)的支持下,整体市场交易活动已显著改善,机构投资者参与度也有所扩大。

去年,我国一共迎来12宗上市项目,集资规模约20亿4800万美元。

据《联合早报》报道,新交所目前正与约50家企业接洽中,涵盖科技、数码基础设施、医疗保健、消费、建筑及房地产投资信托等具长期增长潜力之领域,预计今年上市宗数有望超越去年。


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