Southeast Asian IPO proceeds fall by a third in 2018 amid trade war
Proceeds from Southeast Asia’s initial public offerings plunged 34% on the year in 2018, the first decline in two years, as Sino-American trade tensions depressed investor sentiment. But even as Southeast Asian listings lost steam, the region’s fastest-growing economy of Vietnam increased its IPO market presence this year to overtake such regional leaders as Singapore and Thailand.
The emergence of Vietnam as Asia’s hot IPO destination “is a synchronized result of government support, market reform, inflow of foreign capital and high pace of economic growth”, said Margaret Yang, a Singapore-based analyst at CMC Markets.
