JAKARTA – Fundraising through Initial Public Offerings (IPOs) was carried out by only 136 companies in Southeast Asia in 2024, a 16.6% year-on-year (yoy) decrease from the 163 companies in the previous year.

According to data from Deloitte, one of the world's four largest accounting firms, the total fresh funds raised through IPOs in Southeast Asia in 2024 amounted to USD 3.7 billion. This figure is 36% lower compared to the IPO funds raised in 2023, which were collected by 163 companies in the region.

Throughout 2024, a total of 55 companies conducted IPOs in Malaysia, followed by 41 companies in Indonesia and 32 in Thailand. Meanwhile, only 4 companies listed on the Singapore exchange and 3 companies on the Philippine exchange.

"Global economic uncertainty, exacerbated by political policy shifts, presents a unique challenge for capital markets worldwide," Deloitte wrote in its research.

Nevertheless, Deloitte noted that Malaysia succeeded in raising the largest amount of IPO funds compared to other Southeast Asian countries. However, the total market capitalisation of companies listed on the Indonesia Stock Exchange (IDX) was the highest among the countries in the region.

In Indonesia, the two most prominent IPOs in 2024 were PT Adaro Andalan Indonesia Tbk (AADI) and PT Daya Intiguna Yasa Tbk (MDIY). AADI managed to raise USD 273 million from its IPO held on 5 December 2024, while MDIY garnered USD 262 million from its share offering on 19 December 2024. (KR/ZH)