Singapore’s financial centre, Raffles Place
There’s not a whole lot for investment banks to do in Singapore these days: very few new listings, tech companies who are quite content with private market funding, local debt markets that are strong, but somewhat commoditized.
However, there is a new game in town: Reit mergers.
On Singapore’s somewhat illiquid and listing-starved stock market, Reits have long been a mainstay of volumes.
There are 42 Reits and property trusts in Singapore, which have a combined market capitalization of S$90 billion at the end of 2018, representing 8% of total market capitalization, making it the biggest such market in ex-Japan Asia.
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