Bloomberg: Record $4.9 Billion Raised in Southeast Asia IPO for 2021 1H, 59% Return on 1st Month
30th July 2021 | Singapore
In the 1st half of 2021, Southeast Asia companies raised a record $4.9 billion in IPO, with the newly listed companies averaging 59% return in their first month of trading. By deal count, Indonesia lead Southeast Asia with 23 companies and by fund raised, Thailand lead Southeast Asia with $2.8 billion raised. The top 3 sectors are Oil & Gas, Food and Diversified Financial Services that raised funds through IPOs (2 IPOs in Thailand and Monde Nissin Corp IPO in Philippines raising around $1 billion each). In Southeast Asia, the best performing index is the Straits Times Index, returning 11% in 2021 1H. (Source: Bloomberg Equity Capital Markets Data, IPO ~ Initial Public Offerings)
IPO, Initial Public Offerings, Southeast Asia, Bloomberg
“ Record $4.9 Billion Raised in Southeast Asia IPO for 2021 1H, 59% Return on 1st Month “
Bloomberg: 2021 1H Southeast Asia IPO Summary
- By deal count, Indonesia lead Southeast Asia with 23 companies listing on Indonesia Stock Exchange with the biggest IPO of the decade of Bukalapak.com launching in July 2021.
- By fund raised, Thailand lead Southeast Asia with $2.8 billion with the listings of PTT Oil & Retail Business PCL and microfinance lender Ngern Tid Lor PCL.
- The Philippines was in the second spot with $1.3 billion raised, followed by Indonesia’s $503 million.
- These newly-listed Southeast Asian IPOs recorded an average return of 59% on their first month of trading.
- The best performing index in Southeast Asia, the Straits Times Index, returned 11% in the first half this year.
- Oil & Gas, Food and Diversified Financial Services were the top 3 sectors that raised funds through IPOs, contributed mainly by the two big IPOs in Thailand and Monde Nissin Corp in Philippines. These 3 companies raised about $1 billion each.
- Southeast Asian companies are poised to resume record bonds issuance that was disrupted by Covid-19 last year.
- $84.2 billion of corporate bonds were issued in the first six months this year, with Malaysia accounting for 1/3 of the issuance.
Vatsan Sudersan, Bloomberg APAC Head of Global Data:
“About one third of companies declared that they will use part of the funds raised to repay debt or loans. This is a marked increase from less than 5% of companies using their proceeds for refinancing in the same period last year and 19% in 2019.
We continue to see companies tapping the debt markets to raise capital in this region. We have seen less bond defaults as government measures have helped businesses weather a liquidity crunch. Investors should monitor current restructured loans to see how much will be converted into banks’ Non-performing Loans (NPL) or be written off, post government support. Investors should continue to watch the debt-to-equity ratio of companies to gauge their ability to pay off or take on more debt. In the medium term, investors should review the investment in companies’ capital expenditures and the impact of that in revenue growth to determine their sustainability.”
IPOs
- British Fintech Wise IPO on London Stock Exchange, Rises 10% on Day 1 with Market Value at $12 Billion
- China Premium Tea Nayuki IPO in Hong Kong, Falls 13.5% on Day 1 with $3.8 Billion Value, 2 New Billionaires with $1.1 Billion Each
- Didi Global IPO on NYSE, Rises 1% on Day 1 with Market Value of $68 Billion
- Hong Kong Insurance Group FWD Files for US IPO in United States, Valuation Around $13 Billion
- Didi Chuxing IPO Creates 2 New Self-Made Billionaires, Founder Will Cheng Wei with $7 Billion
- China Didi Chuxing Files for IPO in United States, Valuation at $100 Billion
- Grab $39.6 Billion SPAC IPO Delayed to Q4 2021, Pending Accounts Clearance
- JD Logistics IPO in Hong Kong, 3.3% Higher on Day 1 with $32 Billion Market Value
- Indonesia Tech Giants Gojek and Tokopedia Merge to Form GoTo Group, Eyes $35 Billion Future IPO
- UK-Based Deliveroo IPO on London Stock Exchange, Down 26.4% on 1st Day
- Baidu IPO on Hong Kong Exchange, Price Remains Unchanged on Day 1
- South Korea E-Commerce Giant Coupang IPO on NYSE, Rises 41% on Day 1
- Kuaishou IPO Rises 160% on Day 1, Raised $5.32 Billion
- Airbnb IPO Rises 112% on Day 1, Raised $3.5 billion
- DoorDash IPO Rises 85% on Day 1, Raised $3.3 billion
- JD Health IPO Rises 55% on Day 1, Raised $3.4 billion
Related:
- Italian Luxury Brand Ermenegildo Zegna Goes Public on NYSE in $2.5 Billion SPAC Merger
- Grab $39.6 Billion SPAC IPO Delayed to Q4 2021, Pending Accounts Clearance
- Southeast Asia Grab Goes Public on Nasdaq at $39.6 Billion Valuation with SPAC Merger
- Singapore Exchange Seeks Feedback on SPACs Listing at SGD 300 Million Market Capitalization
- WeWork Goes Public at $9 Billion Valuation with SPAC Merger
- Facebook co-Founder Eduardo Saverin B Capital Creates SPAC to Raise $300 Million on NASDAQ
About Bloomberg
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