Global IPO Watch Q1 2023

April 2023

Global equity markets kicked off strongly in 2023, supported by lower energy and oil prices, positive business sentiment indicators and Mainland China reopening. Asia-Pacific Q1 2023 IPO proceeds accounted for 66% ($17bn) of global IPO proceeds as issuance across the region remained strong, with Mainland China and Indonesia driving IPO volumes this quarter.

As we look further into 2023, with Mainland China’s economy being likely to continue to benefit from its reopening, the downside risks largely sit within the developed world. Increased risks to financial stability could lead to tightening credit conditions which may negatively impact growth in the developed economies. Most companies that are planning to list now should show a track record of, or a clear path to, profitability. Quality and stock fundamentals will be front of mind for IPO investors.