Southeast Asia's IPO activity surges in 1Q despite Covid-19 standstill

Stanislaus Jude Chan
Stanislaus Jude Chan3/30/2020 01:33 PM GMT+08  • 3 min read
Southeast Asia's IPO activity surges in 1Q despite Covid-19 standstill
EY is eyeing an increase in IPO activity in 3Q as the market attempts a reset and the global pipeline looks for the next IPO window.
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SINGAPORE (Mar 30): Initial public offering (IPO) activity surged across Southeast Asia in 1Q2020, despite coming close to a standstill in March on the back of the Covid-19 outbreak.

Building on the momentum in 4Q2019, the number of IPO deals in the region in 1Q2020 jumped 63% to 31 deals raising US$3 billion ($4.3 billion) – an 885% surge in proceeds compared to the same quarter a year ago. This is according to EY's latest quarterly IPO report published Monday.

The significant jump in proceeds is mainly due to the listing of Central Retail Corp – the largest IPO ever on the Stock Exchange of Thailand.

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