Rise in Southeast Asian Firms Eyeing U.S. IPOs as China Peers Retreat

Several Southeast Asian companies, including Funding Societies, Gushcloud International, and Sunday, are considering listing in the United States for their initial public offerings (IPOs), taking advantage of strong investor appetite for emerging market growth in the absence of Chinese stock offerings. This follows recent plans by Vietnamese internet company VNG Corp and Philippine real estate company DoubleDragon Corp's Hotel101 Global to list in the U.S. Chinese firms have paused U.S. IPOs due to political tensions with Washington, increased scrutiny from Beijing, and a slowing Chinese economy. Southeast Asian firms are expected to raise between $300 million and $1 billion, with valuations ranging from $1.5 billion to $8 billion.