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Bloomberg

A global revival in initial public offerings might be far off, but at least 10 Asian companies are working on listings that each could raise US$1 billion or more in the coming year.
China’s onshore market hosted nine stock listings of that size or larger this year, more than any other in 2022, while they almost entirely vanished from venues such as Hong Kong, Seoul and Mumbai.
Here are 10 Asia-based firms in sectors ranging from insurance to chemicals and electric vehicles seeking listings that could stand out.


Ant Group
A comeback of Jack Ma’s Ant Group listing would potentially be the most high-profile IPO, globally. Analysts said a fine on the group last month could mark the end of Beijing’s investigation into the fintech firm and a first step to restarting its IPO process.
Syngenta Group
The seed and fertiliser giant owned by China National Chemical Corp was expected to launch a potential 65 billion yuan (US$9.3 billion) IPO in 2022. If it comes to market that big, it could be one of the world’s largest deals next year.
Amer Sports
Anta Sports Products, China’s biggest athletic-apparel producer, and co-investors in Amer Sports are holding preliminary talks with investment banks for an IPO of the company that could raise about US$1 billion or more. The Wilson tennis racket maker’s debut venue is not yet decided.

FWD Group Holdings
The Asian insurer backed by billionaire Richard Li is weighing next year as a new target for its long-awaited Hong Kong debut that could raise about US$1 billion as soon as the first quarter.
SCG Chemicals
The unit of Bangkok-listed Siam Cement has been working on an IPO that was initially targeting at least US$2 billion. The parent company said in October that it would consider an appropriate time for the deal in 2023.
Cinema XXI
Nusantara Sejahtera Raya, the operator of Indonesia’s largest cinema chain Cinema XXI, is eying an offering in Jakarta that could raise as much as US$1.1 billion.
VinFast
The electric carmaker backed by Vietnam’s richest man filed this month for an IPO in the US just as it prepared to deliver its first SUVs to California customers. The unit of conglomerate Vingroup, founded by Pham Nhat Vuong, could raise at least US$1 billion as soon as January.

Oyo Hotels
The once high-flying Indian start-up for hotel bookings filed fresh documents in September, targeting an early 2023 offering if market and economic conditions allow.
Rakuten Bank
Bloomberg reported in September that the banking arm of the Japanese online retailer Rakuten Group had selected banks for a listing in Tokyo. Assuming a sale of a 35 per cent stake, Rakuten could raise up to 140 billion yen (US$1 billion), according to Bloomberg Intelligence.
Longi Green Energy Technology
The Shanghai-listed solar power equipment firm picked banks for a sale of global depositary receipts in Switzerland, which could be as large as US$4 billion, in the first half of 2023.


Midea provides light at end of Hong Kong IPO tunnel

First Malaysia, next: the world? 99 Speed Mart eyes international expansion

Hong Kong IPO market’s ‘very positive momentum’ set to build, HKEX CEO says

Hong Kong’s biggest IPO since 2021 sizzles as Midea shares soar in blockbuster offering

Jack Ma’s Ant Group, Richard Li’s FWD and Syngenta could be among top 10 Asian IPOs in 2023

Ant Group could launch an IPO next year after Chinese authorities hinted they would end an investigation into the fintech firm. Photo: Reuters

Richard Li-backed FWD Group could raise US$1 billion from an IPO in Hong Kong. Photo: Shutterstock

Pedestrians walk past a hotel operated by Indian start-up Oyo Hotels in Tokyo. Photo: Bloomberg

Hong Kong to be among top three IPO hubs in 2023, with fundraising set to double to US$26 billion: PwC

Steven Lam Hoi-yuen, executive director and co-CEO of Gogox Holding celebrated his company’s IPO at Hong Kong Exchanges and Clearing on June 24, 2022. Photo: Dickson Lee

A bull sculpture looks over the plaza outside Exchange Square, the home of bourse operator Hong Kong Exchanges and Clearing, in Central, Hong Kong, on October 22, 2022. The exchange saw 19 per cent fewer IPOs in 2022 than in 2021. Photo: Yik Yeung-man

Chinese biotech start-up 3D Medicines bucks trend with strong Hong Kong IPO thanks to cancer-drug pipeline

Management of 3D Medicines strike the gong in Shanghai to mark the trading debut of the company’s shares on the Hong Kong stock exchange on December 15, 2022. Photo: Handout

3D Medicines said it has another 11 drug candidates in the pipeline to follow up a successful medicine for colorectal cancer patients. Photo: Shutterstock

Beijing-based platform reveals huge wealth gap for its live streamers in IPO filing, with 95 per cent making nothing at all

Huafang reveals huge income disparity for its influencers. Photo: Handout 

Huafang reveals huge income disparity for its influencers. Photo: Xinhua 

Sunshine’s US$824 million IPO a boost for Hong Kong even as Beijing insurer prices stock offering at lower end of range

Sunshine Insurance’s net profit rose 6 per cent to 6.02 billion yuan last year. Photo: Weibo

China pledges to carefully vet Covid-testing companies in IPO pipeline amid concerns about earnings outlook

People line up to take a nucleic acid test for the coronavirus disease (COVID-19) at a testing booth in Beijing on November 15. Photo: Reuters

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After a lacklustre year for IPOs globally, 2023 could yield a bumper crop of listings from sectors ranging from insurance to chemicals and electric vehicles
Syngenta Group, which deferred a potential 65 billion yuan (US$9.3 billion) IPO, could launch one of the world’s largest deals next year



After a lacklustre year for IPOs globally, 2023 could yield a bumper crop of listings from sectors ranging from insurance to chemicals and electric vehicles.


Jack Ma’s Ant Group, Richard Li’s FWD and Syngenta could be among top 10 Asian IPOs in 2023

After a lacklustre year for IPOs globally, 2023 could yield a bumper crop of listings from sectors ranging from insurance to chemicals and electric vehicles Syngenta Group, which deferred a potential 65 billion yuan (US$9.3 billion) IPO, could launch one of the world’s largest deals next year

After a lacklustre year for IPOs globally, 2023 could yield a bumper crop of listings from sectors ranging from insurance to chemicals and electric vehicles

Syngenta Group, which deferred a potential 65 billion yuan (US$9.3 billion) IPO, could launch one of the world’s largest deals next year