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HK IPO fundraising reaches $41b, as another record expected in 2026_我的网站
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A view of Victoria Harbor, Hong Kong Photo: VCGAs of the beginning of August this year, IPO proceeds in Hong Kong have reached $41 billion, surpassing the full-year total of 2025, and another record is expected this year, an executive of the Hong Kong Exchanges and Clearing (HKEX) has said.
Bonnie Chan, CEO of the HKEX, made the remarks during an event held in Kuala Lumpur, Malaysia, the Hong Kong Economic Journal reported on Tuesday. She noted that in 2025, the city recorded 120 IPOs, raising $39.5 billion and ranking first among global fundraising platforms.
Global capital is refocusing on Asia, particularly China. In the past, capital was highly concentrated in the US market and in just one or two sectors. However, with changes in the political and macroeconomic landscapes, investors have come to recognize the need for risk diversification, and this trend is beneficial to both Malaysia and Hong Kong, said Chan.
Chan called on Malaysian companies to consider listing in Hong Kong to gain access to Chinese mainland investors. Malaysia supported 60 IPOs in 2025, the highest number in 20 years. If companies want to reach a broader investor base and deeper capital pools, Hong Kong is an ideal choice, she added.
Hu Qimu, a professor at the Maritime Silk Road Institute of Huaqiao University, told the Global Times on Wednesday that as a major international financial center, the HKEX's value in global resource allocation has become even more prominent, helping to attract capital from around the world.
During the event, Chan noted that market participants previously believed companies needed China-related business to list in Hong Kong, but this perception has changed in recent years.
She noted that last year, a Dubai-based baby diaper company with operations concentrated in Africa and Latin America listed in Hong Kong. A few months ago, Indonesian gold mining company Modecta completed its IPO in the city. Neither company generates any revenue in the Chinese mainland.
Hu noted that the HKEX boasts a broad international investor base, with information disclosure and corporate governance standards that are internationally recognized.
Moreover, it has become an important platform and intermediary connecting international capital with industries in the Chinese mainland. For foreign companies, listing in Hong Kong is equivalent to opening the door to mainland investors and the pool of yuan capital, Hu added.
Several international financial institutions have also expressed confidence in the Hong Kong capital market. PwC expects Hong Kong's full-year IPO fundraising to reach HK$380 billion ($48.43 billion), with growth momentum expected to continue into 2027, driven by listings of leading Chinese mainland companies and strong interest from international investors in high-growth new economy sectors.
Goldman Sachs said on July 23 that the post-listing performance of new shares in Hong Kong has been quite outstanding. New shares listed between 2025 and 2026 are expected to achieve a median return of about 20 percent and an average return of 60 percent within three months after listing, far exceeding previous years. Goldman Sachs said that market liquidity is ample, and it has predicted that the full-year fundraising in 2026 will reach $60 billion.
Hu noted that backed by the steady and positive trajectory of China's economy and the continuous upgrading of its industrial chains, investment and IPOs in Hong Kong will become more active.
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Photo: Chinese Foreign Ministry spokesperson Guo JiakunAs a good friend of Cambodia and Thailand, China has all along made active efforts to promote talks for peace in our own way and encouraged the two countries to realize a ceasefire at an early date and resume bilateral contact, Chinese Foreign Ministry spokesperson Guo Jiakun said on Wednesday. We hope both countries will work in the same direction and resolve their border disputes peacefully through friendly consultation. China stands ready to continue playing a constructive role to this end.
Guo made the remarks when asked to respond to recent media reports about military equipment cooperation between China and Cambodia, and asked about what is China's position on the Cambodia-Thailand border disputes.
Guo said China has reiterated on multiple occasions that China is a friendly neighbor of both Cambodia and Thailand, and engages in normal military equipment cooperation with both countries.
The cooperation does not target a third party and has nothing to do with the border disputes between Cambodia and Thailand. China maintains candid communication with both Cambodia and Thailand on this issue and the two countries are clear about this, Guo noted.
Cambodia and Thailand are and will always be neighbors. Properly settling the border disputes at an early date serves the common and long-term interests of the people of both countries, the spokesperson added.
Global Times
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