IPOs in Southeast Asia continue to grow despite global headwinds

KUALA LUMPUR/BANGKOK — Initial public offerings are rising on Southeast Asian stock exchanges. While the amount raised through IPOs worldwide was down 30% year-on-year from January to June, it was up around 40% in Southeast Asia. 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 technology companies, which are facing deteriorating market conditions in the US 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 2023, an increase of 43% over the same period last year, and the number of IPOs increased 14% to 79.