Tech listings to fuel Asia's IPO markets as more players step out of China's shadow

Kelly Ng

Published Wed, Sep 22, 2021 · 11:50 AM

WHILE Beijing's regulatory crackdown has stirred volatility, strong levels of activity in markets like South Korea, India and South-east Asia will continue to drive Asia's initial public offering (IPO) frenzy.

Bankers signalled that investors are keen to pick out tech listings in the rest of Asia which may have been overshadowed by Chinese peers.

Fintech, consumer technology and healthcare plays have featured prominently in record jumps in regional IPO offerings, driven in part by rising demand among investors in these traditionally overlooked markets to own a piece of the "new economy", said Udhay Furtado, Citi's co-head of Asia equity capital markets.

"Whereas in China and in the United States, we already have the Googles, Amazons, Alibabas and Tencents, we should see a much more even spread of listings across Asean, India and (South) Korea in the next 12 months,"…