Singapore Investment Banking Fees Down 24% in 2023: LSEG
Singapore's investment banking fees in 2023 dropped 24% to $664.9 million, as per preliminary LSEG data.
DBS led with 14% of the total fee pool, amounting to $94.4 million.
Advisory fees from completed mergers and acquisitions (M&A) fell 41% to $205.2 million.
Singapore-involved M&A transactions hit $50.7 billion, the lowest annual total since 2013, with a 57% YoY decline in deal value but an 8% rise in the number of deals.
Singapore-target M&A value dropped 66% to $14.2 billion, and domestic M&A activity fell 68% to $5.6 billion.
Inbound M&A decreased 64% to $8.6 billion, and outbound M&A fell 53% to $24.8 billion.
Fees from equity capital markets were down 34% to $76.8 million, supported by $3.2 billion raised from Singapore equity and equity-related issuances.
Singapore-domiciled companies raised $2.8 billion via follow-on offerings, a 3.6% increase YoY.
Initial public offerings by Singapore companies raised 61% more proceeds, totaling $110.6 million.
Debt capital markets fees fell 27% to $91.3 million, with primary bond offerings from Singapore-domiciled issuers 25% lower YoY at $20.1 billion.
Environmental, social, and governance-related bonds from Singaporean issuers accounted for 18% of total Singapore-issued bond proceeds.
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