Thailand Emerges as a Leading IPO Market in Southeast Asia
Ranks Among Top Three for Fundraising in 2023
Thailand has positioned itself among the top three markets for Initial Public Offerings (IPOs) in Southeast Asia, capturing 26% of the region's total fundraising efforts, according to global consultancy Deloitte.
As of November 15, 2023, Thailand hosted 29 IPOs, generating $756 million in new funds.
In contrast, the entire Southeast Asian region raised around $3 billion through 122 IPOs, with Malaysia leading both in the number of IPOs and total funds raised.
Despite the healthy number of IPOs, the total capital raised in the region was the lowest in nine years, a decline from the $5.8 billion raised from 163 IPOs in 2022.
Wilasinee Krishnamra, a partner at Deloitte Thailand, highlighted that 2024's stock market outlook suggests moderate economic growth and a boost in post-pandemic recovery strategies incorporating AI and robotics.
Efforts by Thai regulators aim to stimulate the market by enhancing transparency and supporting businesses, including small enterprises.
However, challenges like economic decoupling and climate change persist, albeit offset by strong governance and political stability in the capital markets.
Upcoming IPOs in Thailand are anticipated in consumer, healthcare, and real estate sectors.
Regionally, Southeast Asia's IPO market faced hurdles including currency volatility, regulatory disparities, and geopolitical tensions.
High interest rates across Southeast Asia further hindered IPO activity, as noted by Tay Hwee Ling, a leader at Deloitte Southeast Asia.
The consumer and energy sectors dominated the IPO landscape, contributing 52% of IPOs and 64% of the total funds.
Nonetheless, Deloitte forecasts a rebound in the IPO market next year, potentially driven by expected interest rate cuts and a strong consumer base.
By 2025, a revival in IPO activities is anticipated across Southeast Asia, bolstered by foreign direct investments and investor confidence in strategic sectors.
As of November 15, 2023, Thailand hosted 29 IPOs, generating $756 million in new funds.
In contrast, the entire Southeast Asian region raised around $3 billion through 122 IPOs, with Malaysia leading both in the number of IPOs and total funds raised.
Despite the healthy number of IPOs, the total capital raised in the region was the lowest in nine years, a decline from the $5.8 billion raised from 163 IPOs in 2022.
Wilasinee Krishnamra, a partner at Deloitte Thailand, highlighted that 2024's stock market outlook suggests moderate economic growth and a boost in post-pandemic recovery strategies incorporating AI and robotics.
Efforts by Thai regulators aim to stimulate the market by enhancing transparency and supporting businesses, including small enterprises.
However, challenges like economic decoupling and climate change persist, albeit offset by strong governance and political stability in the capital markets.
Upcoming IPOs in Thailand are anticipated in consumer, healthcare, and real estate sectors.
Regionally, Southeast Asia's IPO market faced hurdles including currency volatility, regulatory disparities, and geopolitical tensions.
High interest rates across Southeast Asia further hindered IPO activity, as noted by Tay Hwee Ling, a leader at Deloitte Southeast Asia.
The consumer and energy sectors dominated the IPO landscape, contributing 52% of IPOs and 64% of the total funds.
Nonetheless, Deloitte forecasts a rebound in the IPO market next year, potentially driven by expected interest rate cuts and a strong consumer base.
By 2025, a revival in IPO activities is anticipated across Southeast Asia, bolstered by foreign direct investments and investor confidence in strategic sectors.
