Investors lapped up Singapore Global Logistic Properties' IPO but shunned the non-precious metals unit of London-listed gold miner Petropavlovsk Plc in a seesion of mixed fortunes for Asian share offerings.
Asia has led the world in initial public offerings so far this year, raising $89.9bn (£56.6bn) in the first nine months of the year as investors shift funds to emerging markets, according to data compiled by Thomson Reuters.
In contrast, IPOs in the United States brought in $11.8bn while $27.3bn was raised in Europe, Middle East and Africa.
Besides GLP and Petropavlovsk unit IRC, other large Asian IPOs currently ongoing include AIA, the Asian life insurance arm of American International Group which plans to raise about $15bn, Singapore property trust Mapletree Industrial and Philippine budget carrier Cebu Air.
Cebu Air priced its share sale at 125 pesos each, near the midpoint of its indicative range, that could raise at least $538m, making it the Philippines' largest ever IPO.
Fund flows tracker EPFR estimates more than $6 billion flowed into emerging market equity funds in the week to 6 October, the highest since the fourth quarter of 2007 and the second best figure on record.
"With the value of the US dollar slumping to multi-year lows versus other major currencies, flows into emerging markets assets and commodities accelerated sharply in early October," EPFR said in a statement.
City A.M. Reporter