IPOs in Southeast Asia and Singapore Decline Year-over-Year in 1H 2024
IPOs in Southeast Asia and Singapore Decline: Regional initial public offerings had a precipitous decline in market value, falling from $20.09B in H2023, to $5.78B in H2024.
IPOs in Southeast Asia and Singapore Decline: There were 67 deals on the SEA IPO capital market in the first half of 2024, and US$1.4 billion was raised.
The IPO deals went down by 21% in the first half of 2024 from the same period last year. Also, receiving the funds took 59% more time than the prior year.
The report was released in July by Deloitte as part of its 2024 Southeast Asia Mid-Year IPO Snapshot.
Regional initial public offerings had a precipitous decline in market value, falling from $20.09B in H2023, to $5.78B in H2024.
The drop shows a “lukewarm regional IPO outlook” because of the lack of big IPOs in the first half of 2024. Southeast Asia only had one big IPO during this time, which raised more than $200 million. In the first half of 2023, three big IPOs raised more than $600 million each.
The nation generated more revenue than any other Southeast Asian nation, with a total of $25 million or $248 million. In the previous year, $2.28 billion was raised through 44 initial public offerings (IPOs).
5 of the ten largest initial public offerings (IPOs) occurred in Thailand, Malaysia, Indonesia, Vietnam, and the Philippines during the first half of 2024. . They raised a total of US$848 million, which is 62% of the total amount raised.
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Singapore only had one IPO in the first half of 2024. The Singapore Institute of Advanced Medicine Holdings raised $20 million. In the first half of 2023, three IPOs in the city-state earned a total of US$21 million.
Tay Hwee Ling, Deloitte’s Southeast Asia accounting & reporting assurance leader, “While Southeast Asia’s IPO market may appear subdued in 2024, there is cautious optimism that conditions will improve beyond 2024.”
She further added, “As investors and IPO candidates adapt to the new norm of higher interest rates and reduced liquidity, they are becoming more adept at navigating the complexity in geopolitical tensions and the global economic landscape.”
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