Singapore raised the least amount (US$20 million), far behind Thailand (US$427 million), Indonesia (US$248 million), the Philippines (US$194 million) and Vietnam (US$37 million).

In a mid-year report on Southeast Asian share listings, Deloitte said Malaysia held 33% of the market share in terms of the IPO proceeds raised, the largest in the region.

However, the amount was a drop compared to the amount raised in the same period last year, when US$510 million was raised, amounting to 15% of the market share then.

Indonesia had the highest number of IPOs (25), followed by Malaysia with 21, Thailand (17), the Philippines (2), and one each for Vietnam and Singapore.

The Deloitte report said new listings were skewed towards smaller deal sizes, and Malaysia’s IPO performance continued to be underpinned by new listings on the secondary ACE Market.

Alfa IVF Group Bhd’s public offering on the ACE Market in March raised US$94 million, placing it third on the Southeast Asian top 10.

Prolintas Infra Business Trust’s US$94 million launch on the main market was ranked in 4th place, Feytech Holdings Bhd (US$43 million) in 8th place, and Keyfield International Bhd in 10th place (US$37 million). All three launched their IPOs in the Main Market.

Thailand led the rankings with Thai Credit Bank Public Co Ltd raising US$208 million in February.

Deloitte said the launch of Prolintas Infra Business Trust was a landmark being the first Islamic business trust IPO to be listed on Bursa Malaysia.

Wong Kar Choon of Deloitte Malaysia said “the consumer industry with well-established brand names will continue to be the cornerstone of Malaysia’s economic landscape” by tapping the capital market.