How many IPOs were there in Malaysia in 2025?

Malaysia had 59 IPOs in 2025, raising a total of RM5.5 billion. This made Malaysia the #1 market in Southeast Asia by IPO count in 2025. H1 2025 alone had 32 new listings — a record-setting pace.

What was the best performing IPO in Malaysia 2025?

THMY Holdings Berhad (semiconductor test solutions) was the best full-year performer with +193% gain — market cap grew from RM275M to RM804M. For first-day gain, THMY Holdings also topped the list at +155%. Oriental Kopi Holdings gained +99% on its first day and won The Edge Malaysia's 'Best ACE Market IPO of 2025'.

What was Oriental Kopi's IPO performance?

Oriental Kopi Holdings Berhad (ticker: KOPI) listed on ACE Market on 23 January 2025 at RM0.44/share. It gained +99% on its first day and was awarded The Edge Malaysia's Best ACE Market IPO of 2025. The full-year share price performance was approximately 3× its IPO price.

Was 2025 a good year for Malaysian IPOs?

Overall mixed. Of the 59 IPOs, only 2 out of the first 14 listings were above IPO price by end of March 2025, impacted by global uncertainty (US tariff shocks). However, select IPOs like Oriental Kopi (+99% day-1) and THMY Holdings (+193% full year) delivered exceptional returns. The semiconductor and F&B sectors significantly outperformed.

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Home›Investment›IPO Malaysia›IPO 2025

📊 Full Year Review

IPO Malaysia 2025 — Performance Review

59 IPOs · RM5.5B raised · #1 Southeast Asia · Oriental Kopi +99% · THMY Holdings +193%

Total IPOs

2025 full year

Total Raised

RM5.5B

#1 SE Asia

Best Day-1 Gain

+155%

THMY Holdings

Best Full-Year

+193%

THMY Holdings

2025 IPO Performance — Notable Listings

Company	Market	IPO Price	1st-Day Gain	Full Year	Note
Oriental Kopi Holdings	ACE	RM0.44	+99%	+200%+	Best ACE IPO 2025
THMY Holdings	ACE	RM0.31	+155%	+193%	Best full-year performer
Cuckoo International	Main	RM1.08	Flat	—	Recurring rental model
ORKIM Berhad	Main	RM0.92	—	—	Dec 2025 listing
Pantech Global	Main	RM0.68	-15%	—	Underperformed at launch

2025 IPO Detail Pages

Oriental Kopi Holdings Berhad

Food & Beverage / Café Chain · ACE Market

First day: +99%

View details →

THMY Holdings Berhad

Semiconductor Test Solutions · ACE Market

First day: +155%

View details →

Cuckoo International (MAL) Berhad

Home Appliances / Water Purifiers · Main Market

First day: Flat

View details →

ORKIM Berhad

Oil & Gas Shipping · Main Market

View details →

What 2025 Taught Malaysian IPO Investors

Sector matters more than market

Semiconductor (THMY +193%) and F&B consumer brands (Oriental Kopi +99%) massively outperformed manufacturing and logistics. In 2026, watch for semiconductor plays — SkyeChip is the biggest tech IPO in years.

ACE Market can beat Main Market

All the best 2025 performers were on ACE Market. Smaller float + retail-heavy investor base = bigger first-day moves. Main Market IPOs like Cuckoo and Pantech were flat or down.

Most IPOs underperform after initial buzz

Of 14 IPOs tracked through March 2025, only 2 were above IPO price. The 'apply and flip' strategy worked for top picks, but holding most IPOs was a losing trade — US tariff uncertainty hit sentiment.

Multiple applications improve chances

The Bumiputera MITI tranche + public balloting gives two separate shots. Apply both channels simultaneously. 70x oversubscribed (Gold Li 2026) means <2% chance — maximise entries.

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Frequently Asked Questions

How many IPOs in Malaysia 2025?

Malaysia had 59 IPOs in 2025, raising RM5.5 billion total — making Malaysia #1 in Southeast Asia by IPO count. H1 2025 had 32 new listings alone.

What was the best IPO in Malaysia 2025?

THMY Holdings (semiconductor test solutions) — +155% first day, +193% full year (RM275M → RM804M market cap). Oriental Kopi Holdings won The Edge's 'Best ACE Market IPO 2025' with +99% first-day gain.

What was Oriental Kopi IPO price?

Oriental Kopi Holdings Berhad listed on ACE Market on 23 January 2025 at RM0.44/share. Gained +99% on first day. Won Best ACE Market IPO 2025 award.

Should I invest in Malaysian IPOs?

Malaysian IPOs have high variance — some (THMY, Oriental Kopi) delivered exceptional gains, while most 2025 IPOs underperformed. Key factors: sector (semiconductor > manufacturing), market buzz (oversubscription rate), and timing. Never invest more than you can afford to lose in IPO balloting.