Daily Newsletter

IN FOCUS

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

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

TOP STORY

1️⃣ 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.

SkyeChip, a Malaysian semiconductor design firm, opened at 4x its IPO price. Meanwhile, Singapore co-working operator JustCo has had a rough few months since its public debut.

By July 20, JustCo's shares had fallen 45.7% below its offer price. Despite that, the company is pushing ahead with opening 28 new locations across several markets this year.

A public debut may be a big feat for a tech firm, but keeping the market interested is a whole other challenge.

A DATA STORY YOU SHOULDN'T MISS

Malaysia's highest-funded tech companies in the last decade

Carsome is the highest-funded tech firm in Malaysia this year - a spot it has consistently occupied in the last five years. The online car marketplace also remains the only unicorn in the country.

It may also soon join our IPO tracker - it's expected to go public this year or the next.

Coming after Carsome in our list is over-the-top media service provider iFlix. But unlike Carsome, it's reportedly taking a different lane when it comes to startup exits.

In February this year, it was reported that iFlix is exploring a sale, and that Chinese tech giants have been keeping an eye out for an opportunity exactly like this.

TRENDING NEWS

1️⃣ OpenAI prepares commercial push into Israel

The ChatGPT maker is starting off with hiring for business development roles instead of engineers. This expansion comes as Israel emerges as a major market for enterprise AI, with a recent study putting it at no. 1 in relative Claude usage globally.

2️⃣ Ant International raises $1.2b in series A

Existing investors Ant Group and Alibaba Group joined the round, alongside other international backers. With the new capital, the fintech firm is looking to drive its global expansion and bolster its merchant payment and financial services network, which connects over 150 million merchants worldwide.

3️⃣ China's GigaAI eyes Hong Kong IPO

The Beijing-based startup, which builds world models for robotics and autonomous driving, is mulling a listing in Hong Kong as early as this year. GigaAI is currently closing a funding round at a valuation of US$3 billion.

4️⃣ Paytm Q1 profit jumps 79% as revenue rises 28%

Despite strong results driven by merchant and consumer payment growth, Paytm's board decided to withdraw its proposed bonus share issue to prioritize long-term profitability and growth.

5️⃣ Revolut opens first APAC bank in Australia

Prior to the launch, the UK-based firm had 1 million customers in Australia from its travel card and foreign exchange services. Revolut is looking to invest US$279 million in the country over the next five years.

INDUSTRIAL-SCALE AI MASTERCLASS

In conversation with the CEO of Certis

We're thrilled to announce that Ng Tian Beng, president and group CEO of Certis, is joining us at the Tech in Asia Conference 2026 to talk about the tactical reality of leading a 25,000-person workforce into the AI era.

With over 25 years of experience in tech leadership, including a tenure as senior vice president at Dell Technologies, where he oversaw a multi-billion-dollar business, Tian Beng brings unparalleled expertise in driving ops-tech transformation. His knowledge in navigating strategic partnerships and national initiatives in Singapore provides a blueprint for scaling AI across critical infrastructure like airports and borders. This session moves beyond the boardroom to uncover the governance and infrastructure decisions required to deploy AI where it matters most.

Join us in Singapore to learn from a leader who has spent decades shaping the tech landscape across Asia Pacific.

PRESS PEEKS

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