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
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.
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What is Jack Ma’s Ant Group and how does it make money?
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
