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Indonesia’s bumper IPO harvest to continue as Asean middle class fuels growth

Megan Cheah

Megan Cheah

Published Wed, Dec 27, 2023 · 05:00 AM
    • Across South-east Asia, the top performer is Indonesia, which has raised US$3.6 billion across 80 listings, according to Bloomberg data.
    • Nickel mining company Trimegah Bangun Persada has had one of the largest initial public offerings in the Asean region in 2023.
    • Across South-east Asia, the top performer is Indonesia, which has raised US$3.6 billion across 80 listings, according to Bloomberg data. PHOTO: BLOOMBERG
    • Nickel mining company Trimegah Bangun Persada has had one of the largest initial public offerings in the Asean region in 2023. PHOTO: AFP

    INDONESIA is the stock market to watch when it comes to initial public offerings (IPOs) in South-east Asia next year, market watchers said.

    Thailand and Malaysia are also expected to see more IPO movements as Asean companies seek capital.

    Asean’s largest markets – Singapore, Malaysia, Thailand, Indonesia and the Philippines – collectively had 159 listings as at Dec 19. These raised US$5.7 billion, according to Bloomberg data.

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    IPOTech IPOAseanOutlook 2024Asean BusinessSouth-east Asia

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