Singapore IPO market starts to stir again: media

SINGAPORE, Sept. 7 (Xinhua) -- After a dismal showing of three listings in the first half of the year, the Singapore initial public offering (IPO) market is stirring back to life again, local media reported on Monday.

According to English newspaper the Straits Times, IPO aspirants, companies wanting to issue common stock to the public for the first time to raise capital, are once again turning to the capital market to raise funds.

A total of seven IPOs have been launched since end June, which is more than double that of the first six months.

Lackluster stock market conditions earlier have hit the IPO market as prospective issuers hold back their listing plans waiting for the market to turn the tide.

Of the 10 IPOs so far this year, seven are trading above their IPO price, with only three faring below debut price.

Two recent debutantes stood out, PEC shares surged 80 percent above its offer price on its trading debut, while Mary Chia shares were up 47.8 percent on the first day of trade.