Southeast Asia's raised IPO funds hit 3-year high

A total of 144 IPOs raised $10.4b from January to October 2017.

Southeast Asian exchanges exploded with activity as 144 initial public offerings (IPOs) were registered in the first ten months of 2017 to post a total fund of $10.4b with market cap of $33.9b, according to Deloitte’s Southeast Asia IPO market review.

Deloitte noted that the amount of funds raised was the highest since 2014, adding that the activity reflects rising levels of investor confidence and positive listing decisions.

The growth was led by seven listings – two each from Singapore and Malaysia and three from Thailand.

NetLink NBN Trust clinched the top spot in SEA after it raised $2.45b – the largest IPO in Singapore since 2011 whilst Malaysia’s Lotte Chemical Titan Holding Berhad followed after raising $1.2b.

Thailand raised $2b whilst Indonesia generated $1b in the past four years.

The Singapore Exchange (SGX) witnessed 15 deals this year, raising a total of $3.7b.

Malaysia IPO capital market raised a total of $2.4b, smashing last year’s total raised funds of $377m.

“Against a healthy global backdrop and resilient domestic demand that supports growth with Southeast Asia’s GDP forecasted at 5.1% — way exceeding the Global GDP forecasted at 2.7%, we can expect the markets to remain dynamic and attractive to investors,” said Dr. Ernest Kan of Deloitte Southeast Asia.

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