An IPO, or Initial Public Offering, is when a company decides to “go public” by listing its shares on a stock exchange. For the company, it’s a way to raise fresh funds to expand. For investors, it’s the first chance to own a slice of a business.
On the Singapore Exchange (SGX), IPOs don’t just mean local companies. We may see REITs, overseas firms, and even dual listings looking to list and to attract investment dollars to their company.
For Singapore investors, IPOs are vital because they bring new growth opportunities and add more variety to the sectors in which we can invest, ranging from tech to property to global names choosing to list here.
In this week’s edition of 4 Stocks This Week, we take a closer look at four companies that made their debut on the SGX Mainboard in 2025. We look at what these companies do and how their share prices have performed since their IPO.
Info-Tech Systems LTD (SGX: ITS)
Info-Tech Systems Ltd (SGX: ITS) is a Singapore-based SaaS company that develops cloud-based HR and accounting software, catering mainly to SMEs in Singapore and across the region, including Malaysia, Hong Kong and India.
With more than 23,000 organisations and over 850,000 employees already using its HRMS platform, and over 1,000 clients on its accounting system, the company has established a substantial base of recurring subscription revenue.
The company listed on the SGX Mainboard on 4 July 2025, pricing its shares at S$0.87. Based on its issued share capital of about 258 million shares, this gave the company an implied market capitalisation of around S$224 million at IPO. At the point of listing, Info-Tech Systems was also SGX’s first mainboard listing in two years.
On its first day of trading, its shares closed about 4.6 per cent above its IPO price. Since then, the price has fluctuated, and is currently trading at S$0.86 as of 26 September 2025.
NTT DC REIT (SGX: NTDU)
NTT DC REIT (SGX: NTDU) is a data-centre-focused real estate investment trust sponsored by Japan’s NTT group. It made its SGX Mainboard debut on 14 July 2025, raising USD 773 million (approximately S$988 million) in what is widely regarded as the largest REIT IPO in Singapore in over a decade.
Its initial portfolio comprised six premium data centre assets located across the U.S., Austria and Singapore, with a combined appraised value of about USD 1.6 billion. At IPO pricing of USD 1.00 (S$1.276) per unit, the listing implied a market capitalisation of over USD 1 billion. The company is currently trading at USD 1.00.
AvePoint (SGX: AVP)
AvePoint (SGX: AVP) is a global software company specialising in data security, governance, and digital resilience. On 18 September 2025, it became the first B2B SaaS company to dual-list on both Nasdaq and the SGX Mainboard.
The SGX listing was executed via a secondary offering of 13,290,360 shares at an issue price of S$19.50 per share, raising roughly S$259 million for the company. With the dual listing, AvePoint expanded its capital markets presence while retaining its Nasdaq listing. Its Singapore listing is part of a broader strategy to deepen ties with Asian investors, raise its profile in the APAC region, and improve liquidity for its shares. According to SGX, the estimated market capitalisation on listing was about S$4.369 billion.
As of 26 September 2025, AvePoint is trading at S$19.50.
Centurion Accommodation REIT (SGX: 8C8U)
The latest IPO on the SGX, Centurion Accommodation REIT (SGX: 8C8U) was listed earlier this week on 25 September 2025. It’s a purpose-built student and workforce lodging REIT sponsored by Centurion Corporation. Centurion REIT’s portfolio at listing comprises 14 lodging and accommodation assets across Singapore, the United Kingdom, and Australia.
With its IPO units priced at S$0.88 per unit, it became Singapore’s second-largest IPO of the year, raising S$771.1 million. In addition, units opened at S$0.98, representing an 11.4% jump over the offer price, and traded as high as S$0.98 during the day before settling. As of 26 September 2025, the share price is at S$0.965.
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Photo Credit: SGX
