Southeast Asia IPO proceeds buck downtrend to hit US$6.4bil as of mid-Nov

KUALA LUMPUR: Total initial public offering (IPO) activity across Southeast Asia as of mid-November this year bucked the overall downward trend to inch up to pre-COVID-19 levels, with US$6.44 billion (US$1=RM4.09) in funds raised from 100 IPOs.

Deloitte Southeast Asia and Singapore disruptive events advisory leader, Tay Hwee Ling, said compared to full-year 2019, the number of IPOs fell 38 per cent from 161 and total IPO proceeds slipped 12 per cent from US$7.34 billion, but the total IPO market capitalisation this year increased by three per cent to US$25.96 billion.