Southeast Asia’s IPO raised $2.5 Bn in first half of the year, 85 percent increase

In comparison to 50 IPOs that raised $1.4 billion in the first half of 2025, Southeast Asia saw a total of 35 IPOs that raised $2.5 billion, down 30% in volume and an 85% increase in proceeds, according to EY on Friday.

According to a statement from the company, exchanges in the region that experienced activity in the first half were in Indonesia, Malaysia, Singapore, and Thailand.

One initial public offering (IPO) in Indonesia raised $17.8 million in the first half of 2026, compared to 14 deals that raised $427.5 million the previous year.

In contrast to 29 transactions that raised $898 million a year ago, 28 initial public offerings (IPOs) in Malaysia raised $1.4 billion in the first half of this year.

In the first half of this year, five initial public offerings (IPOs) in Singapore raised $1.1 billion, while one deal raised $4.5 million.

In Thailand, five deals raised $27.4 million in the first half of the year, compared to only one IPO raising $10.4 million.

“The effects of the Middle East conflict and continued uncertainties in geopolitics continue to impact listing sentiments in the second quarter of 2026,

“This, combined with the regulatory changes across the region, has led IPO aspirants to take a more cautious approach with their listing plans, especially amid uncertainties in near-term prospects,” said Chan Yew Kiang, EY ASEAN IPO Leader.

Weak post-IPO performance, in his opinion, also reflects cautious market emotions regarding interest rate uncertainty, which could have a lasting effect until sentiments improve.

He emphasized that Singapore and Malaysia remained active in Southeast Asia during the second quarter of 2026.

“Notably, Singapore showed improvements in the IPO volume and proceeds compared to a year ago. The Equity Market Development Program (EQDP) that was introduced in February 2025 had injected liquidity and vibrancy in Singapore,

“This helps to attract companies, especially those related to real estate, to list. Singapore also surpassed Indonesia as the largest stock market in market capitalization in Southeast Asia this quarter,” he said.

Additionally, he stated that local businesses in Malaysia are still drawn to list on the ACE market.

“Post-IPO performance remains mixed as investors get increasingly selective in a volatile market,” he added.

Globally, 509 initial public offerings (IPOs) raised $193.6 billion in the first half of 2026. This represents a 7% decrease in transaction volume and a 210% increase in proceeds when compared to the same period in 2025 (548 deals, raising $62.4 billion).

247 initial public offerings (IPOs) in Asia-Pacific raised $46.8 billion, up 6% in volume and 60% in value over the previous year.

Greater China continues to be one of the most active equities capital markets in the Asia-Pacific region.

Hong Kong attracts both regional and foreign capital, whereas China mostly attracts domestic investors.