Fundraising from Singapore domestic initial public offerings so far in 2017 have doubled compared to the entire 2016.
So far in 2017, 19 Singapore-focused IPOs raised S$4.6 billion. That was effectively double the S$2.3 billion raised by 16 IPOs in 2016, according to a report by the Singapore Exchange.
The market capitalisation of the 19 stocks on debut is also significantly higher, totalling S$8.3 billion, compared to S$4.4 billion in 2016.
Of the 19 IPOs in 2017, the three best performers from their offer price were Samurai 2k Aerosol (+470 percent), UnUsUaL (+278 percent) and Kimly (+42 percent).
All three of the stocks were listed on the Catalist board, which provides investors access to smaller-sized, yet potentially fast-growing companies, SGX said.
The seven mainboard offerings have averaged a 6 percent price gain from initial offer prices, whilst the 12 Catalist stocks averaged a 68 percent gain from initial offer prices.
The growth in IPOs were supported by the improving economic landscape.
Singapore's economy grew 5.2 percent in the September 2017 quarter, the highest growth rate since the December 2013 quarter, driven by the manufacturing sector.