MAS Guidelines: Expectations of FIs' Advisory Activities for IPOs

It has been a lukewarm first quarter of 2023 for the global Initial Public Offering (IPO) market. Ernst & Young reports that 299 IPOs raised US$21.5b in Q1, representing 8% and 61% drops, respectively, year-over-year (YOY). Interest rate and inflation hikes, banking industry issues, and pessimism throughout the global stock market have made their mark this year.

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