Who’s next to list in Asia?

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In focus

• Asia’s healthy IPO pipeline
• A Malaysian giant’s planned exit
• OpenAI’s Israel push

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Hello reader,

Whenever I speak with GCash for a story, I always try to get more information about its years-long plan to go public. Its IPO is one of the most anticipated listings in the Philippines, given how the company has grown to dominate the country’s fintech space.

There were some developments lately, with GCash aiming to raise up to US$1.5 billion via its IPO. Meanwhile, its competitor Maya said that it’s considering a dual listing in the US and Manila.

These companies are just some of the tech heavyweights making up Asia’s IPO pipeline.

Hong Kong logged 85 IPOs in the first half of 2026 and raised US$26.9 billion, powered by advanced tech and biotech listings. Meanwhile, the Singapore Exchange (SGX) posted five mainboard listings in H1, compared to just one during the same period last year.

Unlike GCash, some of Southeast Asia’s most recognizable startups are choosing not to list at their home base. Line Man Wongnai, a Thai food delivery player, just finalized plans to go public in New York or Hong Kong. Bitkub, also a Thai company, is prepping a US$200 million IPO in Hong Kong.

We’re monitoring all of these companies and more in our regularly updated IPO tracker.

Miguel Cordon, journalist

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Top Story

Tracking IPOs: GCash inches toward listing, RedDoorz sets stage

Our IPO tracker doesn’t just look at the startups about to go public. It also checks up on some of the more recent listings across Asia.

This update features two tech companies that made their debuts within days of each other in May but saw different outcomes.

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