The backdrop of this is that there were years of a slowing IPO market before Covid-19, due to geopolitical uncertainties and slowing economic growth, ” says Astramina Advisory managing director Wong Muh Rong. Chinese e-commerce giant Alibaba Group Holding Ltd holds the record as the world largest IPO with US$25bil. For this year, there is a new record of the largest IPO hitting the market almost every week. Deliveroo share price has fallen below its IPO price, while Coupang, which trades above its IPO price, is on a declining trend. It was the largest IPO in three years raising RM1.5bil, giving it a market capitalisation of RM10bil.

Source: thestar April 02, 2021 23:28 UTC