Hong Kong IPOs to raise up to US$32 billion this year on continuing momentum, KPMG says

Name: China’s largest EV battery maker CATL celebrates strong debut at Hong Kong stock market
Uploaded: 2025-07-08T10:04:56.000Z
Duration: 1 min 44 s
Description: China’s largest EV battery maker CATL celebrates strong debut at Hong Kong stock market

As many as 130 companies could raise US$32 billion in proceeds by December, based on the top end of KPMG’s forecast

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From left: SCMP Correspondent Aileen Chuang, KPMG Partner Irene Chu, and HKEX’s head of global issuer services Johnson Chui. Photo: Eugene Lee

Julie Zhang

Published: 6:04pm, 8 Jul 2025Updated: 7:31pm, 8 Jul 2025

Corrected [7:11pm, 8 Jul, 2025]

[7:11pm, 8 Jul, 2025]
Between 100 and 130 companies are expected to launch IPOs this year. Earlier it was mentioned between 100 and 230 companies would launch IPOs. The headline has also been changed.

Hong Kong’s stock exchange could experience a surge in new listings in the second half of the year, with total proceeds for the year estimated to reach up to HK$250 billion (US$32 billion), following efforts to promote the city’s capital markets, according to KPMG.

Between 100 and 130 companies were expected to launch initial public offerings (IPOs), partner Irene Chu said, bringing the total proceeds to between HK$200 billion and HK$250 billion for the year. The final tally would depend on market conditions, she added.

The strong momentum seen in the first half was expected to continue in the second half of the year, Chu, who is also head of new economy and life sciences at KPMG China, said at the annual China Conference organised by the South China Morning Post on Tuesday.

Hong Kong regained the crown as the world’s busiest venue for IPOs in the first half, when 42 companies raised US$13.5 billion from IPOs, according to market data. Better sentiment, market re-rating and diversification away from US-dollar assets helped fuel the eightfold growth from a year earlier.

There were 219 applicants in the IPO pipeline, she added, including a record 210 making a beeline for the main board versus 86 at the end of 2024.

01:44

China’s largest EV battery maker CATL celebrates strong debut at Hong Kong stock market

Hong Kong Exchanges & Clearing (HKEX), the bourse operator, has been courting global firms to list in the city by stepping up efforts to recognise foreign stock exchanges. It has recognised Thailand, Dubai and Abu Dhabi to ease the route for companies there to list in Hong Kong.

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Hong Kong IPOs to raise up to US$32 billion this year on continuing momentum, KPMG says

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}As many as 130 companies could raise US$32 billion in proceeds by December, based on the top end of KPMG’s forecast

As many as 130 companies could raise US$32 billion in proceeds by December, based on the top end of KPMG’s forecast