IPOs in Southeast Asia keep growing despite global headwinds

KUALA LUMPUR/BANGKOK — Initial public offerings are on the rise at Southeast Asian stock exchanges. While the amount raised through IPOs worldwide declined some 30% year-on-year from this January to June, it rose about 40% in Southeast Asia. The IPOs that stood out were those of companies focused on domestic demand, such as real estate and food products, as well as resource companies dealing with renewable energy — but not tech companies, which are facing deteriorating market conditions in the U.S. and Europe.

With the help of Dealogic, a financial market platform, Nikkei analyzed IPO data from Southeast Asia. IPOs raised $4.1 billion from January to June in 2023, a 43% increase over the same period last year, and the number of IPOs increased by 14% to 79.