SINGAPORE, Aug. 5 (Xinhua) -- Singapore led Southeast Asia's initial public offering (IPO) fundraising rebound in the first half of 2026, raising 1.1 billion U.S. dollars from five listings as larger deals lifted the region's total proceeds despite a sharp decline in the number of IPOs, according to a report revealed by EY on Wednesday.
Singapore's IPO market rebounded from a low base, up sharply from a single IPO that raised just 4.5 million dollars in the first half of 2025, said the report.
Across Southeast Asia, 35 IPOs raised 2.5 billion dollars in the first half, down 30 percent in volume from 50 listings a year earlier, while total proceeds jumped 85 percent from 1.4 billion dollars, reflecting larger fundraisings despite weaker deal volume.
Malaysia remained the region's busiest IPO market by number of listings, with 28 IPOs raising 1.4 billion dollars, compared with 29 deals worth 898 million dollars a year earlier.
Indonesia recorded just one IPO raising 17.8 million dollars, down from 14 listings that raised 427.5 million dollars, while Thailand also had one IPO, raising 10.4 million dollars compared with five deals worth 27.4 million dollars in the first half of 2025.
EY ASEAN IPO leader Chan Yew Kiang said geopolitical uncertainties, including the Middle East conflict, regulatory changes and interest rate uncertainty, continued to weigh on listing sentiment during the second quarter.
"Weak post-IPO performance also reflects cautious market sentiments over interest rate uncertainties and this may have a lingering impact until sentiments improve," he added.
However, he said Singapore's IPO market benefited from the Equity Market Development Program introduced in February 2025, which improved market liquidity and helped attract listings, particularly from real estate-related companies.
He noted Singapore also overtook Indonesia as Southeast Asia's largest stock market by market capitalization during the quarter. ■
