Southeast Asia IPO Capital Market

Economic background

2022 was a year of global uncertainty in the economy and financial markets, with consecutive federal rate hikes to battle rising global inflation, as well as the Russia-Ukraine conflict contributing to supply chain crunch and upward pressure on prices.

Overview of SEA IPO Market

This year saw 163 IPOs, a 7% increase compared to the 152 IPOs in 2021. While the number of IPOs had increased, the total IPO funds raised decreased in 2022, which is indicative of a higher number of smaller listings in 2022.

The Southeast Asian IPO market closed 2022 with a market capitalisation of US$56.1 billion. Although funds raised had decreased by 43%, market capitalisation increased 10.3% from 2021.

Thailand and Indonesia are top of the table in Southeast Asia for 2022; each raised above US$2 billion, collectively accounted for 78% of total funds raised across Southeast Asia. Malaysia witnessed a 138% increase in IPO funds raised.

Overview of Vietnam IPO Market

Vietnam market recorded 8 IPO deals in 2022 with total fund raised amounting to US$71 million. Out of the 8 IPOs, 6 were completed in the first half of 2022. The IPO market focus has shifted from Real Estate in 2021 to Industrial and Consumer Products in 2022. It is expected that Consumer Products will continue to play a key role, with highly anticipated upcoming IPOs from this sector.