Malaysia has secured its position as the top performer in Southeast Asia’s initial public offering (IPO) capital market for the first half of 2025, accounting for 66 per cent of total IPO proceeds raised across the region. According to Deloitte’s Mid-Year IPO Snapshot 2025 report, the country raised US$940 million out of a regional total exceeding US$1.4 billion.
Deloitte noted that Malaysia continued its strong IPO momentum from the previous year, outperforming its regional peers in three critical metrics: total funds raised, market capitalisation, and number of IPOs.
Among the standout listings was Eco-Shop Marketing Bhd, a household name that debuted on the Main Market of Bursa Malaysia. The discount retail chain led Malaysian IPO fundraising with US$230 million and saw its share price climb six per cent on the first day of trading. This marks the largest IPO in Southeast Asia so far this year.
Malaysia recorded 32 IPOs in the first half of 2025, placing six of them among the region’s top 10 listings. Compared to the same period in 2024, the number of listings increased by approximately 48 per cent, while IPO proceeds rose by around 109 per cent. Notably, total IPO market capitalisation surged by roughly 165 per cent.
Across Southeast Asia, there were 53 IPOs in the first half of 2025, raising over US$1.4 billion with a combined market capitalisation of US$7.7 billion. This is slightly lower than the 67 IPOs recorded during the same period in 2024, which raised just under US$1.4 billion with total market capitalisation exceeding US$5.8 billion.
Commenting on the outlook, Deloitte Malaysia Transactions Accounting Support partner Wong Kar Choon said the IPO market in Malaysia remains positive for the remainder of 2025. As of 30 June 2025, the country has recorded 32 listings, putting Bursa Malaysia on track to meet its full-year target of 60 listings.
However, Wong cautioned that external factors could influence the market trajectory. “The recent US trade tariffs and geopolitical tensions have introduced uncertainty, and we foresee there could be an impact on the IPO market,” he said. “This situation may lead to cautious investor sentiment, with investors possibly favouring lower-risk assets in the near term.”
Wong also noted that companies, particularly those reliant on exports and vulnerable to supply chain disruptions and rising costs, may opt to delay their IPO plans amid ongoing market uncertainties.
-Bernama
