Asia Startups Face Tougher IPO Market as Krafton Deal Looms
- New listings in the region have totaled $82 billion this year
- Valuations have come down as market volatility increases
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Asia’s stock listing aspirants will likely face a less generous market following a first-half sales boom, as bubbly valuations and nervousness about U.S. monetary policy make investors more cautious.
Firms in Asia have raised $82 billion through initial public offerings so far this year, the most ever for a first half, and beating the previous record of $63 billion seen during a comparable period in 2010, data compiled by Bloomberg show. The performance is part of a global trend, with new listings having hit a record of almost $351 billion since 2021 began, as ultra-low interest rates and ample liquidity pushed yield-hungry investors into riskier assets.