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TOPIC

IPO

IPO
Latest news and analysis on initial public offerings (IPOs), with a particular focus on companies raising funds on the Hong Kong Stock Exchange.
A jury rejected Elon Musk’s claims that OpenAI under Sam Altman’s leadership betrayed its mission to benefit the public. Photo: AFP
Millionaires and billionaires

US jury rules against Musk in OpenAI feud, finding lawsuit came too late

Jurors deliberate for less than two hours before tossing Elon Musk’s breach-of-contract claims against OpenAI and its founders.

Semiconductors

CXMT’s soaring profits lift China’s semiconductor stocks

Artificial intelligence

Kimi developer Moonshot AI valued at US$20b as it navigates new IPO rules

Artificial intelligence

Hong Kong puts its own spin on DeepSeek with China-chip AI push abroad

Government-backed lab says China-chip compatibility will support secure, local AI use as it explores overseas expansion.

Director at the HKGAI, Guo Yike, said the centre plans to unveil its HKGAI-V3 model in the first half of this year. Photo: Karma Lo
Hong Kong property

Hong Kong residential property upturn drives recovery in office, retail sectors

Shop rents will ‘turn positive by year-end’ but likely post a 3 per cent decline for the entire year, Morgan Stanley says.

HKEX

HKEX posts record quarterly profit, topping forecast as listings, turnover surge

Earnings jump 27 per cent to HK$5.19 billion as global capital continues to seek safe havens and access to Asian growth: CEO Bonnie Chan.

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Banking & finance

Hong Kong’s IPO lead

Hong Kong has retained its crown as the world’s busiest market for initial public offerings so far this year, helped by offerings from printed circuit board maker Victory Giant and pork producer Muyuan Foods.

Hong Kong’s IPO lead
Business of climate change

China Resources Power’s renewable energy arm cleared for Shenzhen IPO

Listing approval for Hong Kong-listed CRP’s unit highlights strong demand for clean energy, driven by China’s long-term decarbonisation targets.

Hong Kong stock exchange

Chinese industrial robot maker Inovance joins Hong Kong IPO queue

Company aims to enhance internationalisation strategy with listing expected to raise up to US$2 billion.

Semiconductors

Photonics chipmaker Lightelligence surges 400% in Hong Kong debut amid AI frenzy

Shanghai-based firm’s IPO reflects mainland China’s push for photonics chips as a fast-growing alternative to conventional semiconductors.

Lightelligence says it is the first company to achieve large-scale deployment of hybrid optical-electronic computing globally. Photo: Handout
Hong Kong

China’s solar giant Sungrow revives Hong Kong IPO plan amid clean energy boom

Refiled application comes as a cluster of mainland China companies submits listing documents, signalling a pickup in the city’s IPO pipeline.

Workers prepare panels that will be part of a large floating solar farm project under construction by Sungrow Power Supply in Anhui province, China. Photo: Getty Images
Hong Kong property

Frenzy for Hong Kong luxury homes seen continuing after 156% sales rise

Stock-market gains and attractive prices will continue to lure wealthy buyers including mainland Chinese investors, agents say.

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Hong Kong economy

IPO market ‘raises HK$140 billion’ as Hong Kong renews gold trading push

Financial Secretary Paul Chan says city remains top IPO hub, citing strong demand among ‘high-quality’ companies and robust market momentum.

HKEX

Hong Kong, Malaysia exchanges to team up on ETFs, listings, Islamic finance

Development ‘underscores growing demand from investors for cross-border products and diversified regional exposure’, HKEX CEO says.

Hong Kong Exchanges and Clearing CEO Bonnie Chan Yiting (left) and Bursa Malaysia CEO Dato’ Fad’l Mohamed appear in a media briefing at the HKEX office in Central on April 22, 2026. Photo: Handout
Artificial intelligence

Victory Giant skyrockets after biggest Hong Kong IPO this year

The Nvidia supplier jumped on its trading debut, underscoring demand for AI hardware stocks and the resilience of Hong Kong IPO demand amid Middle East upheavals.

Victory Giant Chairman Chen Tao and his wife Non-Executive Director Liu Chunlan. Photo: AFP
Artificial intelligence

Chinese circuit-board supplier Victory Giant jumps 57% in Hong Kong share debut

Nvidia supplier raises US$2.6 billion in its IPO as investors rush to cash in on the AI infrastructure boom.

Banking & finance

HKEX proposes halving settlement cycle to boost Hong Kong’s financial profile

Bourse operator launches a consultation on shortening the share settlement cycle to one day, aiming to implement the reform in late 2027.

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Financial crime

Hot tips, cold reality: China targets online stock scams luring novice investors

Crackdown targets social media accounts offering bogus stock tips, paid groups and AI-driven tools amid surge in retail scams.

Chinese authorities have shut down around 10 social media accounts for illegally recommending individual stocks. Photo: Reuters
Hong Kong

Manycore, one of Hangzhou’s ‘Six Little Dragons’, surges on Hong Kong IPO debut

The company’s listing highlights its pivot from design tools to advanced AI-driven spatial platforms as it eyes overseas growth.

Commodities

Geopolitics to drive Hong Kong mining fundraising amid ‘supercycle’, experts say

Hong Kong could see more mining IPOs as global demand for resources accelerates, though national security issues may slow deals: experts.

Energy storage

Sigenergy jumps 103% in Hong Kong debut on rising energy storage demand

The Shanghai-based firm’s shares closed at HK$659.50, versus its offer price of HK$324.20 after it raised US$560 million from its IPO.

Visitors learn about products at the booth of Sigenergy Technology during the Solar and Storage Live Africa 2026 in Johannesburg, South Africa, on March 25, 2026. Photo: Xinhua
Artificial intelligence

Lightelligence on track with IPO plans as China’s AI photonics race gathers pace

Shanghai-based company aims to become Hong Kong’s first listed AI photonics chipmaker as AI infrastructure buildout drives momentum.

An illustration of Lightelligence’s optical network on a chip. Photo: Handout
Banking & finance

Global funds fuel Hong Kong IPO rebound as investors rebalance China portfolios

AI, robotics and energy storage firms make up most of the record-high IPO pipeline in Hong Kong, says Chan.

Shanghai

Huaqin’s US$580 million Hong Kong share sale attracts JPMorgan and UBS

The Shanghai-listed firm is selling 58.55 million shares, pricing them at a 31.2 per cent discount to their last-traded mainland stock price.

Artificial intelligence

Victory Giant joins IPO push by China’s circuit-board makers amid AI frenzy

Nvidia supplier aims to raise up to US$2.2 billion in Hong Kong as AI data centre demand makes boards ‘all the rage’.

A robotic arm is seen in a factory of Victory Giant Technology. Photo: Handout
Mainland China

What does China’s tightening grip on red-chip structures mean for IPOs?

China’s tougher stance on red-chip structures is reshaping the tech listing pipeline, adding uncertainty for companies targeting Hong Kong.

China’s tightening oversight of offshore listings is already reshaping the pipeline for Hong Kong IPOs. Photo: Jelly Tse
Hong Kong stock market

Can Hong Kong’s listing reform 2.0 win over innovative firms?

The reforms enhance the city’s appeal for AI, biotech and other firms by slashing the market cap threshold and enabling confidential filings.

Banking & finance

Mainland China and Hong Kong IPOs drive Citic to the top of banking fee rankings

Citic leads Asia-Pacific in fees in the first quarter as IPOs in Hong Kong and mainland China offset weaker debt and M&A activity.

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