Southeast Asia sees broad-based IPO deal value recovery 

Initial public offerings (IPOs) in Southeast Asia staged a broad-based recovery in 2025, with total proceeds jumping 76 percent to about $6.5 billion, despite a decline in the number of listings.

This is according to a report by Deloitte Southeast Asia, which counted 120 IPOs that have been completed across six regional bourses last year, down from 136 in 2024.

However, the value of total funds raised rose sharply from $3.7 billion a year earlier, driven by larger deal sizes and a return of high-value listings in key sectors.

The average IPO deal size more than doubled to about $54 million, from US$27 million in 2024, supported by a handful of blockbuster offerings.

See Also

Jobless rate down to 4.4% in November

In the Philippines, IPO fundraising nearly tripled to $596 million or around P35.16 billion in 2025, even as there were just two listings. The increase in value was largely driven by a single large energy and utilities offering, underscoring the market’s reliance on big-ticket deals.

Deloitte said the rebound in deal value was driven largely by the blockbuster IPO of Maynilad Water Services Inc., which raised $584 million or around P34.46 billion. This deal accounted for the bulk of the proceeds during the year.