Despite the pandemic and US-China trade tensions, Southeast Asian capital markets have remained resilient, with local IPO activity from January up to mid October 2020 reaching pre-pandemic levels, and with 100 IPOs raising a total of US$6.44 billion.
TAY Hwee Ling, head of Southeast Asia and Singapore at Deloitte, was cited as saying companies were able to find new growth by changing their business models during the crisis, and that areas such as healthcare and its suppliers have benefited amid the pandemic.
Thailand Business News reported that for the second consecutive year, Thailand was the top fundraising country in Southeast Asia, with Central Retail and SCG Packaging raising US$1.77 billion and US$1.27 billion, respectively.