The buoyancy in the sector is being driven by multiple factors, including regulatory shifts, policy support, and debt capital market activity in the city.
Final orders were over S$2bn allowing UOB to upsize from its original S$500m benchmark; there was participation from 96 investors with 26% outside of Singapore.
The digital bank, which has operations in China, Hong Kong and Indonesia, is looking at M&A opportunities and developing artificial intelligence agents, with the debt and equity fundraise.