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Singapore IPOs: Why I No Longer Cover Every Listing

Some readers may have noticed that I have not been writing about every Singapore IPO since last year. The simple reason is that life has become busier. Between my day job, an increasingly packed travel schedule, family commitments and desire to play more golf, I have become much more selective about how I spend my time.  Writing detailed IPO reviews takes time — reading prospectuses, analysing financials, comparing valuations and understanding the competitive landscape. While I still enjoy investing and writing, I no longer feel the need to cover every IPO that comes to market. Instead, going forward, I will probably focus only on IPOs where I am seriously considering investing my own money or where there is something particularly interesting that is worth discussing. I suspect this will make the blog more useful as well. Rather than writing about every deal, I can spend more time sharing my thoughts on the handful that I believe deserve attention. That bring...
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Singapore IPO Tikams for 2019

2019 is an extremely bad year for IPOs in Singapore.
Source: Shareinvestor.com
There were only a pathetic 11 IPOs of which 7 were available to the investing public. For retail investors who can only apply for the shares through the ATM, you will realistically be able to get Lendlease, Prime US Reit, Eagle Hospitality Trust and ARA Hospitality Trust USD. 

 Few takeaways:
  • Hospitality Trusts are still not in favor with local investors
  • Eagle dumped the shares on retail and coupled with the "Queen Mary" PR nightmare, the share price crashed.  Not to mention some related party transactions that caused investors jitters
  • Reputation of the Sponsors are extremely important. REITs that are managed by known and reputable sponsors such as Lendlease and Prime are better sought after
  • Small cap IPOs, if "well controlled", can still rise from their ashes after a bad debut 
Since my IPO tikams are reported annually, 2019 will be no exception. You can search for prior year results here.


I had wanted to participate in an IPO in a big way but eventually it was canned. I also participated in an HK IPO but eventually the allocation was quite small, so i made about $207. Since it is not a local IPO, i did not include it in the 'tikam'. I wasn't successful in my IPO application for Lendlease REIT, so the end results is a big fat Zero! 😅

2019 certainly didn't do well for Mr. IPO by historical standard. It also showed the state of our market here. Hope 2020 will be the start of a new decade of better IPOs.

Here is wishing all readers a Happy 2020 with lots of love 💝, good health 💪 and abundant wealth 💰







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Anonymous said…
Looks like time for next better players to step forward and run SGX?
2 January 2020 at 08:44
JiakBaVehFree said…
transcab writeup sir!
2 January 2020 at 16:44
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