Malaysia led Southeast Asia in initial public offering (IPO) performance in the first half of 2025, recording the highest number of listings and capital raised, according to data by Deloitte, reported by Xinhua.
The countest saw a 48% year-on-year increase in listings to 32 IPOs, raising approximately US$940 million, up 109% from the same period last year. Total IPO market capitalisation also surged 165% to US$4.04 billion, placing Bursa Malaysia ahead of regional peers.
Deloitte Malaysia Transactions Accounting Support Partner Wong Kar Choon declared the outview for IPOs in Malaysia remains optimistic, with the bourse on track to hit its full-year tarobtain of 60 listings.
However, Wong warned that rising geopolitical tensions and recent US-imposed trade tariffs have created uncertainty, potentially weighing on investor sentiment and leading to delays, especially for export-oriented firms facing supply chain disruptions and rising costs.
“Investors may adopt a more cautious approach and favour less risky assets during this uncertain period,” he declared, adding that strong consumer brands are likely to remain key drivers of IPO activity, given their established market position.
Across Southeast Asia, the IPO market remained resilient, with 53 listings raising over US$1.4 billion and achieving a total market capitalisation of US$7.7 billion in the first half. While the number of IPOs declined 21% compared to 67 listings a year earlier, capital raised grew 3%, and market capitalisation increased 33% from US$5.8 billion in H1 2024.
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