CGS International Delivers Hallmark Year of IPOs, Strengthening its Role in Facilitating Capital Flows Across ASEAN Markets
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Landmark year marked by successful listings across Singapore, Malaysia, and Thailand, spanning Singapore Exchange (“SGX”) Mainboard, Catalist, Bursa Malaysia Main Market, and the Stock Exchange of Thailand (“SET”).
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Key milestones include Info-Tech Systems’ Mainboard IPO, China Medical System’s secondary listing, and Lum Chang Creations’ Catalist debut in Singapore; UMS Integration’s secondary listing, and Paradigm REIT’s Main Market IPO in Malaysia; Mr D.I.Y. Thailand’s listing on the SET.
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Out of 63 deals completed up to 11 December 2025, 14 were IPOs listed across ASEAN reflecting CGS International’s expanding investment banking franchise and its pivotal role in connecting issuers and investors across ASEAN markets.
SINGAPORE, Dec. 11, 2025 /PRNewswire/ — CGS International Securities Pte. Ltd. (“CGS International”) achieved a hallmark year in 2025, underscoring its growing leadership in Asia’s capital markets through a series of landmark initial public offerings (“IPOs”) and secondary listings in Singapore, Malaysia, and Thailand.
As market sentiment improved and cross-border deal activity accelerated, CGS International played an instrumental role in facilitating regional capital flows, amplified through collaboration with CGS International Holdings Limited (“CGI”) in Hong Kong.
Notable IPOs across ASEAN
In Singapore, CGS International Securities Singapore Pte. Ltd. (“CGS SG”) supported three high-profile listings on the SGX:
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Info-Tech Systems Ltd. – Mainboard IPO raising S$57.4 million, marking Singapore’s first Mainboard IPO in two years.
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China Medical System Holdings Ltd. – Secondary Listing on the SGX Mainboard, with shares rising 11.2% on debut.
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Lum Chang Creations Ltd. – Catalist Board IPO, raising S$12.25 million, extending CGS SG’s track record across construction and real estate-related sectors.
In Malaysia, CGS International Securities Malaysia Sdn. Bhd (“CGS MY”) continued to strengthen its foothold in the Bursa Malaysia Main Market:
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UMS Integration Ltd. – Secondary listing, the first of its kind by a Singapore-listed company, enabling UMS to broaden its shareholder base in Malaysia.
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Paradigm Real Estate Investment Trust (“Paradigm REIT”) – Main Market IPO jointly underwritten by CGS MY, which raised RM560 million.
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Aquawalk Group Bhd – ACE Market IPO, with CGS MY as joint underwriter and joint placement agent, with fundraising of RM228.5 million.
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Wasco Greenergy Bhd – Main Market IPO with CGS MY as joint bookrunner, with fundraising of RM150 million.
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