Malaysia records US$1.62 billion in IPO proceeds, leads SEA

Malaysia recorded 38 initial public offerings (IPOs) raising US$1.62 billion (approximately RM6.9 billion) in the first nine months of 2026, outperforming other Southeast Asian markets in terms of listing activity and funds raised, according to Ernst & Young (EY).

The performance represented an increase from 37 IPOs that raised US$992 million during the corresponding period last year, reflecting stronger fundraising activity and continued investor interest in Malaysian companies.

In its EY Global IPO Trends: Q3 2026 report, EY said Malaysia was the exception in Southeast Asia, where IPO activity generally slowed during the third quarter amid regulatory changes, geopolitical uncertainties and a muted economic outlook.

IPO Proceeds

Malaysia recorded nine IPOs raising US$167.2 million in Q3 2026, compared with eight listings that raised US$94 million in the same quarter last year.

Neil Nghia Trung Nguyen of EY’s Capital Markets practice said the stronger proceeds reflected continued investor appetite for quality companies with compelling growth prospects.

He said the capital market continued to play an important role in supporting companies through their next phase of growth by providing access to funding while broadening their investor base and market profile.

However, he cautioned that issuers would need to be realistic about market timing and investor expectations against an uncertain global backdrop.

“As investors become increasingly selective, a strong equity story, backed by sound fundamentals, good governance and a clear growth strategy, will remain critical to achieving a successful listing and sustaining investor confidence beyond the IPO itself,” he said.

EY Asean IPO Leader Chan Yew Kiang said regulatory reforms, economic uncertainties and geopolitical conflicts had affected listing sentiment across the region.

He noted that, with the exception of Malaysia, IPO transaction counts across Southeast Asia had slowed in Q3 compared with the same period last year.

Southeast Asia

Across Southeast Asia, 56 IPOs raised US$3 billion in the first nine months of 2026, representing declines of 26% in deal volume and 13% in proceeds year-on-year.

Singapore recorded eight IPOs raising US$1.28 billion, while Indonesia had seven listings raising US$121.3 million. Thailand recorded three IPOs worth US$21.3 million.

Globally, 908 IPOs raised US$290 billion in the first nine months of 2026. Although deal volume declined 2% from a year earlier, proceeds surged 153%, indicating a significant increase in funds raised.

#BusinessNews