2025 IPO Trends: Opportunities & Realities
In 2025, is IPO still the dream destination, or just one of many possible paths?
On 3rd July 2025 — VLAN Asia hosted its latest Tribal Monthly, bringing together entrepreneurs, corporate leaders, financial advisors, and capital market experts to explore the evolving role of Initial Public Offerings (IPOs) in today’s business environment.
From shifting investor expectations to operational readiness and long-term strategy, the session unpacked what IPOs really mean today and what they should represent for businesses in Southeast Asia.
What We Learned:
- IPOs Aren’t What They Used to Be
Once viewed as a finish line, IPOs are now seen as a strategic tool — for growth, access, and credibility. While raising capital remains important, many businesses pursue listing to unlock larger contracts or improve their standing with institutional partners. - The Market Demands Maturity
Investors today aren’t chasing “growth at all costs.” They’re looking for stability, profitability, and businesses that are easy to understand. As one speaker put it:
“It’s not rocket science. If the business is stable and sound, investors will come.” - Governance & ESG Are Core, Not Extras
Whether you're aiming for Bursa, Hong Kong, or NASDAQ, the bar is high. Companies must now demonstrate real governance structures, internal controls, and ESG alignment just to be considered IPO-ready.
A Change in Mindset
While some attendees were preparing to go public, others expressed the belief that staying private was just as powerful provided there’s a clear vision and strong growth strategy.
The conclusion? IPO is not for everyone, and that’s perfectly fine.
There are many ways to scale a business and many models for success. But whatever the path, the key is to be intentional, not reactive.
3 Words That Echoed Across the Room:
1. Readiness — Muhd Farrish Ishak, Deloitte
“Before even thinking of listing, companies must do a thorough health check. Governance, compliance, and preparedness aren’t optional, skipping them can cost you.”
2. Governance — Ivan Woo, Kenanga Investment Bank Berhad
“Many SMEs aren’t used to full transparency. If your systems and internal controls aren’t in place, going public could do more harm than good.”
3. Credibility — Davent Low, Mandrill Tech Sdn Bhd
“We lost a major tender not because of capability — but because we weren’t listed. Sometimes, IPO status is the trust signal you need to move up.”
What’s Next?
This Tribal Monthly reminded us that IPO isn’t just a financial event, it’s a transformation. A shift in how you operate, report, govern, and grow.
Whether you plan to list or not, building with IPO standards in mind can make your business stronger, leaner, and more resilient.