Singapore Exchange Seeks Infrastructure Bonds as IPOs Slump
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Singapore Exchange Ltd., Southeast Asia’s largest bourse operator, is seeking to become a venue for infrastructure bonds as a slump in initial public offerings of shares threatens earnings.
Local-currency debt issuance in Singapore, one of seven nations with AAA ratings and stable credit outlooks, reached a record S$30.7 billion ($25 billion) so far this year, beating an annual high of S$24.7 billion in 2010, according to data compiled by Bloomberg News. The amount raised in Singapore IPOs slumped 62 percent this year compared with the same period last year. SGX reported a 19 percent drop in first-quarter revenue from equities trading.