KUALA LUMPUR — Southeast Asia’s equity capital markets reached a grim milestone in 2024, as IPO activity plunged to its lowest in nearly a decade, reflecting the headwinds battering global markets: high interest rates, volatile geopolitics and subdued investor confidence.
But there are signs the region is poised for a pickup in initial public offerings next year, led by a renewed focus on regional exchanges, a surge in smaller, tech-driven share listings, and rising private equity interest. Southeast Asian tech companies that had previously eyed U.S. IPOs are increasingly pivoting to local exchanges, amid rising private-equity support and domestic reforms, said a regional capital market analyst.
