Core Insights - Singapore's IPO market showed significant revival in 2025, leading Southeast Asia with US$1.6 billion raised in the first 10.5 months, primarily driven by two major REITs [1] - The resurgence is attributed to government initiatives, stronger liquidity, and improved investor appetite, indicating a positive outlook for 2026 [1] Group 1: Centurion Accommodation REIT (CAREIT) - Centurion Accommodation REIT is the first pure play, purpose-built worker and student accommodation REIT listed on the SGX, debuting with 14 properties valued at approximately S$1.8 billion [2] - Post-IPO, CAREIT acquired additional properties, increasing its portfolio value to S$2.1 billion, supported by Centurion Corporation Limited's 37 properties, indicating a strong investment pipeline [2] Group 2: NTT DC REIT - NTT DC REIT went public in July 2025, backed by Japan's NTT Group, with an IPO portfolio of six data centres valued at US$1.6 billion and an occupancy rate of 94.3% [4] - Investors can expect a 7.5% annualised DPU yield, which is competitive compared to peers, and the data centre industry is identified as a sector with significant growth potential [4][5] Group 3: Coliwoo - Coliwoo is a leading co-living space provider in Singapore, operating over 2,900 rooms with an occupancy rate exceeding 95%, catering to foreign students and the elderly [6] - The company had an IPO price of S$0.60 per share but has been trading between S$0.55 and S$0.58 since its debut, indicating stable demand in the co-living sector [7] Group 4: Info-Tech Systems - Info-Tech Systems is a cloud-based SaaS provider focusing on HRM solutions, serving over 23,000 clients with 850,000 active users, and reported a 5% YoY revenue growth to S$22.4 million for 1H2025 [9] - The company operates in a high-growth industry with a forecasted CAGR of 11.9% from 2025 to 2029, benefiting from predictable revenue streams [9][12] Group 5: Implications for Singapore's Capital Markets - The successful IPOs in 2025 suggest that Singapore is attracting mature and scalable companies across various industries, reducing reliance on REITs and banks [10] - This trend may encourage other regional companies from Southeast Asia and Asia Pacific to establish a presence in Singapore, marking a potential multi-year revitalization for the capital markets [11]
2026 Singapore IPO Outlook: Top SGX Debuts and Market Trends