For funding bankers in deal-starved components of the world, the amount of exercise throughout Asia Pacific this yr should be a supply of grudging envy.
But the excellent news just isn’t common. There could have been extra IPOs in southeast Asia within the first six months of 2023 than within the equal interval of any of the earlier 5 years, however throughout the entire Asia-Pacific area, the variety of IPOs fell 2% yr on yr, whereas whole proceeds fell an eye-watering 40%.
Southeast Asia is driving fairness market exercise throughout the area by some margin. The variety of IPOs in these international locations has jumped 26% to 82 to this point in 2023, up from 65 throughout the identical interval in 2022. And the worth of these offers was 31% greater yr on yr, at $3.3 billion.
It isn’t any shock that Indonesia leads the pack, with the electric-vehicle theme driving a surge of exercise within the nation. Despite political turmoil, Thailand is the second most lively market, adopted by Malaysia, Singapore, the Philippines and Vietnam.
Our cowl story on this subject talks to funding bankers throughout the area about why that exercise is the place it’s and the way sustainable these flows are into subsequent yr and past.
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