THAILAND, 26 November 2020 — Capital markets across Southeast Asia stayed resilient in 2020 despite a host of uncertainties from the evolving global health crisis to the worsening US-China trade tensions and the impact of the US presidential elections.
Total IPO activity in the region for 10.5 months this year bucked the overall downward trend to inch up to pre-COVID levels with total funds raised of US$6.44 billion from 100 initial public offerings (IPOs).
The total IPO market capitalisation in 2020 increased by 3% to $25.96 bln
- Thailand, Philippines and Malaysia saw a year-on-year increase in IPO funds raised in spite of the pandemic
- Thailand to close 2020 as Southeast Asia’s IPO star with total proceeds of US$3.9 billion exceeding five countries combined.
- First homegrown deep-tech debut on the SGX Mainboard raised more funds than each of the two real estate investment trusts (REITs) listed in 2020, signals strong investor demand.
Although the number of IPOs decreased by 38% from 161 IPOs in full year 2019 and the total IPO proceeds decreased by 12% from US$7.34 billion, the total IPO market capitalisation in 2020 increased by 3% to US$25.96 billion.
The good news is capital markets in Southeast Asia appear to be navigating global economic headwinds well thus far.
For the second consecutive year Thailand remains in pole position
For the second consecutive year, Thailand remains in pole position for the highest funds raised across Southeast Asia. Taking the top two spots on the region’s leaderboard this year are Thailand’s Central Retail Corporation Public Company Limited and SCG Packaging Public Company Limited…
