Primary bond offerings declined 24.6% compared to a year ago.
This chart from Refinitiv shows that debt capital market underwriting fees reached $121.38m (US$89.3m) in the first eight months of the year, a 39.5% decline compared to the same period a year ago.
Primary bond offerings from Singapore-domiciled issuers declined 24.6% compared to a year ago, to total almost $26.51b (US$19.5b) so far this year.
This is the lowest first nine-month period since 2015, when it reached only $22.6b (US$15.2b).
Singaporean companies from the financials sector captured 53.4% market share and raised $14.4b (US$10.4b) during the first nine months of this year, down 30.7% from the same period last year. Real estate followed behind with 12.4% market share, or $3.26b (US$2.4b), down 33.9% from a year ago.
Amongst financial institutions, DBS Group currently leads the Singapore bonds underwriting, capturing 22.8% market share. United Overseas Bank follows at second place with a 9.4% market share.
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