Overlooked IPO markets are booming, as Beijing cracks down on tech firmsBloombergChina’s crackdown on technology companies is prompting global investors to look for new opportunities across Asia, contributing to a record increase in initial public offerings (IPO) from India to South Korea that shows few signs of slowing. Tech companies from those countries and Southeast Asia have raised US$8 billion from first-time share sales this year, already blowing past the previous annual peak. The result, some bankers say, might be the start of a new era for tech listings in Asia. Paytm — formally called One97 Communications Ltd — has filed for a 166 billion rupee IPO that is set to be India’s largest. The growing representation of “new-economy” companies means these markets “can no longer be ignored,” she said.

Source: Taipei Times August 29, 2021 15:56 UTC