Neon, a Singaporean immersive entertainment group, is considering an IPO in Singapore that could raise S$500 million (around US$389 million), according to informed sources.

Currently backed by Temasek Holdings Pte.’s 65 Equity Partners, the company has retained financial advisers for a potential offering that could occur as early as next year.

Details such as the offering size and timing remain subject to change.

Neon has produced immersive experiences for major franchises like Marvel’s Avengers, Jurassic Park, and The Hunger Games.

In 2023, only S$19.5 million has been raised in Singapore IPOs, primarily from a single listing by the Singapore Institute of Advanced Medicine Holdings Pte., marking the lowest total in decades.