Southeast Asia IPO Market Raises More Capital Despite Fewer Listings

The Southeast Asia IPO market delivered stronger fundraising during the first half of 2026 despite a decline in new listings, as larger transactions in Malaysia and Singapore offset subdued activity elsewhere, according to EY.

The region completed 35 initial public offerings that raised USD2.5bn, representing an 85% increase in proceeds despite deal volume falling 30% compared with a year earlier.

Malaysia dominated activity with 28 IPOs raising USD1.4bn, while Singapore generated USD1.1bn from five listings after recording only one small flotation in the corresponding period of 2025.

Indonesia and Thailand experienced weaker issuance as geopolitical tensions, Middle East conflict, regulatory changes and interest-rate uncertainty weighed on investor sentiment.

EY said reforms designed to improve liquidity continued to strengthen Singapore's attractiveness for prospective issuers.

Globally, IPO proceeds more than tripled to USD193.6bn, demonstrating that investors remain willing to support sizeable, high-quality offerings despite heightened market volatility.