Asia-Pacific recorded 247 initial public offerings that raised $46.8 billion in the first half of 2026, up 6% in volume and 60% in value from a year earlier, as Greater China remained among the world’s most active equity capital markets, according to EY.
The region accounted for nearly half of the 509 IPOs completed globally between Jan. 1 and June 26.
Worldwide IPO proceeds reached $193.6 billion, a 210% increase from the same period in 2025, although deal volume fell 7% from 548 listings.
Greater China continued to lead activity across Asia-Pacific.
The Chinese mainland drew principally on domestic investors, while Hong Kong attracted regional and international capital.
Hong Kong’s year-to-date IPO proceeds were already more than 60% higher compared with the first half of 2025, EY said.
The Asia-Pacific pipeline is being reshaped by hard technology, with AI infrastructure, semiconductors, robotics and advanced manufacturing increasingly defining what comes to market.
By contrast, conventional manufacturing, real estate and traditional financial companies continued to attract limited investor interest.
Companies are also increasingly using pre-IPO financing to bolster their balance sheets and bridge to a more attractive IPO window. The approach allows companies to wait for the right timing rather than accept an unfavourable one, EY said.
Regulatory reform, including the offshore filing regime, has added structural stability. For many IPO candidates, the gating factor is less about market sentiment than regulatory approval.
Once approval is secured, companies tend to proceed regardless of conditions, managing valuation expectations and planning follow-on raises rather than waiting indefinitely.
Southeast Asia saw 35 IPOs that raised $2.5 billion during the first half, down 30% in volume but up 85% in proceeds compared with 50 IPOs that raised $1.4 billion a year earlier.
Exchanges in Indonesia, Malaysia, Singapore and Thailand recorded activity.
Malaysia led the subregion by number of listings, with 28 IPOs raising $1.4 billion, compared with 29 deals that raised $898 million in the first half of 2025.
Singapore recorded five IPOs that raised $1.1 billion, up from one deal worth $4.5 million a year earlier.
Indonesia had one IPO raising $17.8 million, compared with 14 deals worth $427.5 million, while Thailand completed one IPO raising $10.4 million, down from five listings worth $27.4 million.
EY ASEAN IPO Leader Chan Yew Kiang said the effects of the Middle East conflict and continued uncertainties in geopolitics affected listing sentiment in the second quarter, while regulatory changes led IPO aspirants to take a more cautious approach to their listing plans.
Weak post-IPO performance also reflected cautious market sentiment over interest-rate uncertainties and could have a lingering impact until sentiment improves, he said.
Singapore and Malaysia continued to be active during the quarter. Singapore showed improvements in IPO volume and proceeds compared with a year earlier, supported by the Equity Market Development Programme introduced in February 2025, which injected liquidity and vibrancy into the market.
Malaysia, meanwhile, continued to attract local enterprises to list on its ACE Market. Post-IPO performance across the region remained mixed as investors became increasingly selective in a volatile market.