Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 37

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 4
Chunk 37
---
3 to 176
in 2024. Total proceeds grew from US$22.2 billion in 2023 to US$33 billion in 2024. Notably, 20 IPOs raised over US$500 million, including
seven that exceeded the US$1 billion mark. In Q4 2024 alone, IPO proceeds doubled year-on-year, driven by a landmark US$1.7 billion listing
that accounted for 30% of the quarter’s total. Sector-wise, life sciences and technology continued to dominate, making up nearly
40% of US IPOs, while companies with AI-driven business models attracted increasing investor interest. Looking ahead to 2025, IPO activity
is expected to be supported by broad sector participation and rising demand for companies demonstrating real, AI-enabled outcomes. 1

Cross-border IPO activity remained robust in
2024, with 113 global listings, up from 83 in 2023. Despite a 48% decline in average deal size, the United States continued to lead as
the top destination for international issuers, hosting 101 cross-border IPOs - accounting for 89% of such listings and marking a
51% increase from the previous year. Foreign issuers made up more than half of all public listings in the US, a historic high, though
they contributed only 18% of total deal value. Listings from the Asia-Pacific region rose significantly, particularly from mainland China,
Hong Kong, Singapore, and Australia, driven by tighter regulatory controls, subdued local market conditions, and the pursuit of broader
capital access. Consumer, TMT (technology, media, and telecom), and industrial sector IPOs increasingly favored US exchanges due to specialized
investor interest and more favorable valuations. 2

The M& A activity continues to thrive, with
global deal value reaching US$1.3 trillion in the first half of 2024, reflecting a 5% increase over 2023. Corporates are increasingly
turning to mergers and acquisitions as a strategic tool for growth, especially evolving market dynamics, and the pursuit of operational
efficiency. In total, 23,054 M& A deals were recorded globally in the first half of 2024, with the Americas accounting for 33.76%
of the total (7,784 deals) and Asia Pacific for 31.56% (7,276 deals). 3

   1      https://www.ey.com/en_us/insights/ipo/