Southeast Asia's IPO Market Value Plummets in H1 2024: What About Indonesia?

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Erlina Fury Santika 09/07/2024 19:40 WIB

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Deloitte research shows a drastic drop in the market capitalization of IPO stocks in the first half of 2024. This is the situation by country.

Market Capitalization of IPOs in Southeast Asia (January-June 2024)

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Southeast Asia's IPO Market Value Plummets in H1 2024: What About Indonesia?

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Market Capitalization of IPOs in Southeast Asia (January-June 2024)

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Initial public offerings (IPOs) in Southeast Asia plummeted in the first half of 2024, according to a report by Deloitte.

The market capitalization of IPOs fell by 71%, from US$20 billion (Rp325.35 trillion, assuming an exchange rate of Rp16,267 per US$) in the first half of 2023 to US$5.78 billion (Rp94.02 trillion) in the first half of 2024.

By country, Thailand had the largest IPO market capitalization at US$1.79 billion (Rp29.11 trillion), followed by Malaysia at US$1.52 billion (Rp24.72 trillion).

Indonesia ranked third with US$1.22 billion (Rp19.84 trillion). The remaining amounts were from the Philippines, Singapore, and Vietnam, as shown in the graph.

According to *Katadata*, ASEAN countries saw only 67 IPOs in the first half of the year, a 21.2% decrease compared to the same period last year. Funds raised from these IPOs dropped 59.4% year-on-year to US$1.38 billion (Rp22.44 trillion).

Deloitte noted the absence of any jumbo IPOs in Southeast Asia between January and June 2024. Only one IPO exceeded US$1 billion in market capitalization.

The largest IPO in Southeast Asia in the first half of the year was Thai Credit Bank Public Company Limited on the Thailand Stock Exchange, raising US$208 million (Rp3.38 trillion). This marks a continuation of the downward trend that began in the second half of 2022.

"This downward trend indicates weak IPO market sentiment, with investors and IPO candidates continuing to navigate macroeconomic factors," Deloitte stated in its *Southeast Asia Mid-Year IPO Snapshot 2024* report, as quoted by CNBC on Tuesday (July 9, 2024).

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Southeast Asia's IPO Market Value Plummets in H1 2024: What About Indonesia?

Southeast Asia's IPO Market Value Plummets in H1 2024: What About Indonesia?

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Southeast Asia's IPO Market Value Plummets in H1 2024: What About Indonesia?

Southeast Asia's IPO Market Value Plummets in H1 2024: What About Indonesia?

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Average Length of Schooling in Cimahi City Up to Grade X in 2025

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