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Business trends

Southeast Asia defies global IPO slump, thanks to old-economy stocks

At least 40 companies in pipeline, led by real estate, retail and food

A retail unit of Central Group plans to go public soon on the Stock Exchange of Thailand. (Photo by Akira Kodaka)

SINGAPORE -- Stock listings in Southeast Asia grew 13% in the year through September, bucking a global downtrend and with several high-profile initial public offerings still to hit the market before the end of 2019.

Data from consultancy firm EY showed that there were 89 IPOs in Southeast Asia in the year to end-September that raised total proceeds of $4.8 billion, up 1% from the same period a year ago.

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