Thailand, Philippine firms lead revival in South-east Asia IPOs; Singapore still in top spot

Reuters
Reuters10/10/2019 03:13 PM GMT+08  • 3 min read
Thailand, Philippine firms lead revival in South-east Asia IPOs; Singapore still in top spot
SINGAPORE (Oct 10): Thailand and Philippine companies are leading a regional pick-up in initial public offerings (IPOs), spurred by growing investor interest in firms focused on South-east Asian consumers.
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SINGAPORE (Oct 10): Thailand and Philippine companies are leading a regional pick-up in initial public offerings (IPOs), spurred by growing investor interest in firms focused on South-east Asian consumers.

Asset World Corp, the hospitality and property firm listed by Thai billionaire Charoen Sirivadhanabhakdi, and Philippine home furnishing retailer AllHome Corp raised US$1.6 billion ($2.2 billion) and US$285 million, respectively.

In the Philippines, AllHome became the third company to tap the local market in 2019, compared with just one IPO in 2018, and its shares debuted 1.04% higher at 11.62 pesos on Thursday.

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