Key Takeaways
- SGX hits all-time high of $17.90 with retail participation at 3-year peak
- Nine IPOs raised over $2.2 billion in Q3 2025, with more listings expected
- Institutional investors bought $481.3 million more Singapore stocks than sold in early October
- Seatrium shares tumble 6.6% after $616 million contract termination
The Singapore Exchange reached a historic high of $17.90 last week, closing at $17.51 on October 10, as revitalization efforts gained momentum. Retail participation hit a three-year high while IPO activity surged in 2025.
SGX Group CEO Loh Boon Chye told shareholders at the annual general meeting that retail participation in recent IPOs has “trended above the market average.” Trading momentum for small- and mid-cap counters more than doubled from a year earlier.
Institutional Support and New Funds
Institutional investors purchased $481.3 million more Singapore stocks than they sold in early October. Mid-cap stocks including Soilbuild Construction, Addvalue Tech, and Marco Polo Marine saw strong buying interest.
Fullerton Fund Management launched the first retail fund under MAS’s $5 billion plan to seed investments in promising mid-cap companies. The Fullerton Singapore Value-Up fund will invest exclusively in Singapore-listed securities.
IPO Pipeline Strengthens
Three companies – Coliwoo, Leong Guan and Infinity Development – announced listing plans in recent weeks. Real estate developer Soon Hock Enterprise launched its mainboard IPO of 21.6 million shares at 58 cents each, valuing the deal at $48.1 million.
The company plans to use $34.6 million in net proceeds to redevelop its Shaw Road property and acquire new land. Soon Hock will have a $180 million market capitalization post-listing and commit to dividend payments.
Nine new listings in Q3 2025 raised over $2.2 billion, including NTT DC Reit, Centurion Accommodation Reit, and Lum Chang Creations – whose shares have more than doubled since July.
Seatrium Contract Termination
Seatrium shares fell 6.6% to $2.28 after Maersk Offshore Wind terminated a $616.3 million contract for a vessel that was 98.9% complete. The stock was the most heavily traded by value with 57.2 million shares changing hands.
The company is reviewing the termination notice and evaluating legal options. The US wind energy sector faces challenges after President Donald Trump canceled funding for offshore projects.
Sembcorp’s Renewable Expansion
Sembcorp Industries rose 2.4% to $6.41 after acquiring ReNew Sun Bright for $246 million, expanding its Indian renewable capacity to 6.9GW. The company also resumed share buybacks, purchasing 510,000 shares between $6.20 and $6.40.
Sector Performance and Outlook
Palm oil stocks including First Resources, Bumitama Agri, and Wilmar International gained 1-12% amid supply constraints and rising prices. Keppel Reit fell 2.9% despite acquiring a Sydney retail mall for $331.3 million.
This week, investors will watch Soon Hock’s IPO closure and gold-related stocks as gold prices hit record highs above $4,000 per ounce.
