APAC IPOs Surge, Malaysia Leads Southeast Asia Listings

KUALA LUMPUR, Aug 6, 2026 – The Asia-Pacific region recorded 247 IPOs raising $46.8 billion in the first half of 2026, marking a 6% increase in volume and a 60% jump in value compared with a year earlier, according to EY. The region accounted for nearly half of the 509 global IPOs, which collectively raised $193.6 billion, up 210% year-on-year despite a 7% drop in deal volume.

Greater China remained the most active market, with mainland listings driven by domestic investors and Hong Kong attracting regional and international capital. Hong Kong’s IPO proceeds rose more than 60% compared with the first half of 2025. EY noted that the pipeline is increasingly defined by hard technology sectors such as AI infrastructure, semiconductors, robotics, and advanced manufacturing, while traditional industries like real estate and conventional finance continue to see limited investor interest.

Companies are also turning to pre-IPO financing to strengthen balance sheets and wait for favourable market windows. Regulatory reforms, including the offshore filing regime, have added structural stability, with approvals now the key gating factor rather than sentiment.

malaysia leads

In Southeast Asia, IPO activity was mixed. The subregion saw 35 IPOs raising $2.5 billion, down 30% in volume but up 85% in proceeds compared with 2025. Malaysia led by listings, with 28 IPOs raising $1.4 billion, up from $898 million a year earlier. Singapore recorded five IPOs worth $1.1 billion, a sharp rise from just one deal worth $4.5 million in 2025. Indonesia saw one IPO raising $17.8 million, down from 14 deals worth $427.5 million, while Thailand completed one IPO worth $10.4 million, compared with five listings worth $27.4 million previously.

EY ASEAN IPO Leader Chan Yew Kiang said geopolitical uncertainties and the Middle East conflict dampened sentiment in Q2, while regulatory changes prompted caution. Weak post-IPO performance reflected investor concerns over interest rates. Still, Singapore and Malaysia remained active, with Singapore benefiting from the Equity Market Development Programme launched in 2025, and Malaysia continuing to attract local enterprises to its ACE Market.

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