South-east Asia’s IPO market shows signs of revival after subdued H1
For the second half of the year, public listings are expected to perform better across the region, supported by strong growth and key reforms
[SINGAPORE] Initial public offering (IPO) activity across South-east Asia remained subdued in the first half of 2025 amid ongoing geopolitical and macroeconomic uncertainty, but market observers say signs of recovery are emerging for H2.
The number of IPOs on major South-east Asian exchanges – in Indonesia, Malaysia, Singapore, Thailand, the Philippines and Vietnam – declined compared to the same period last year.
Based on a recent Deloitte report, 53 listings were recorded in H1 2025, down from 67 (*see amendment note) in H1 2024.
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