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Biggest IPO week in two years, Asian companies expected to raise over $8 billion: Report

Upstox
By Upstox News Desk

3 min read | Updated on October 21, 2024, 13:03 IST

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SUMMARY

Companies from China, Japan and India lead the chart this week, reflecting the revival of the IPO market in the region. In Japan, Tokyo Metro Co. will list shares on October 23 to raise a whopping $2.3 billion, making it the country’s biggest public offer since 2018.

Biggest IPO week in two years, Asian companies expected to raise over $8 billion: Report

Biggest IPO week in two years, Asian companies expected to raise over $8 billion: Report

As many as 20 companies are set to launch their initial public offerings (IPOs) for listing in the Asia Pacific region this week to raise around $8.3 billion, making it the busiest week since 2022, according to a Bloomberg report.

The blockbuster listings in a week in more than two years would be a crucial test of demand before the United States election, the report stated.

Companies from China, Japan and India lead the chart this week reflecting revival of the IPO market in the region.

In Japan, Tokyo Metro Co. will list shares on October 23 to raise a whopping $2.3 billion, making it the country’s biggest public offer IPO since 2018. The IPO comes amid a turbulent period for Japanese markets. X-Ray technology company Rigaku Holdings Corp will list shares on Friday, October 25, to raise around $750 million, Bloomberg reported
In depth: How have big IPOs performed: The hits, misses, and lessons learned

In China, bottled-water company China Resources Beverage Holdings Co will launch its IPO on Wednesday and autonomous-driving technology firm Horizon Robotics Inc on Thursday, respectively. The two companies would cumulatively raise $1.3 billion. The success of their IPOs will showcase a broader revival of Chinese share sales in Hong Kong.

In India, shares of ₹27,870-crore Hyundai Motor India IPO will debut on the stock exchanges on Tuesday.
On Monday, Waaree Energies IPO opened for subscription to raise around $514 million. Deepak Builders & Engineers India Limited IPO looks to raise a decent $30.92 million through its IPO that opened on Monday.

Godavari Biorefineries will launch the IPO on October 23 to raise around $66 million, and Afcons Infrastructure Limited on October 25 to raise $645.9 million.

According to experts, Asian markets are witnessing a revival in demand, and companies are eager to take advantage of the positive situation.

However, investors are also wary of companies' performance after listing. For instance, in India, the Hyundai Motor India IPO, which was the largest so far, was subscribed more than two times but received a lukewarm response from small investors.

Recently, a report by data analytics firm GlobalData highlighted that as many as 822 IPOs, looking to raise $65 billion, hit the capital market in the first eight months (January-August) of 2024. This marked a 17.4% increase from 2023, when 1,564 IPOs were launched in the same period to raise $55.4 billion.

The Asia-Pacific region accounted for the largest number of 575 listings, amounting to $23.7 billion in value.

To learn more about IPO listings, schedules, and upcoming IPOs, visit our page.
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Upstox
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