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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 live feed shows SpaceX CEO Elon Musk on the day of SpaceX’s initial public offering (IPO) at the Nasdaq MarketSite in New York on June 12. Photo: Reuters
Donald Trump

Trump bought shares in Musk’s SpaceX in June, disclosure reveals

White House says third-party manager executed trade without presidential input following rocket maker’s US$1.77 trillion IPO.

Semiconductors

China’s next mega chip listing could break CXMT’s market records

Alibaba

Top Alibaba executives purchase US$15m in shares following landmark AI placement

Mainland China

Shein seeks to raise up to US$1.76 billion in Hong Kong IPO

Based on maximum offer price, IPO would value online fast-fashion retailer at over US$27 billion.

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The Shein logo on a smartphone. Photo: dpa
Hong Kong stock market

Hong Kong stock exchange eases listing rules with 12-month application window

Around 500 companies currently have listing applications pending approval in Hong Kong, far above the historical average.

Hong Kong stock market

Shein pushes back Hong Kong debut to September amid delayed orders: sources

The fast-fashion firm originally aimed to wrap up its IPO in August, but a delay in investor orders has forced a change of plan, sources say.

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Banking & finance

‘IPO queen’ Pamela Chung says time is ripe for listing connect scheme

Scheme introduction would allow mainland Chinese investors access to the city’s IPOs and boost investor capital, Vistra managing director says.

Pamela Chung Kong-hung at her office in Causeway Bay on August 11. Photo: Jonathan Wong
Hong Kong stock market

China’s Mech-Mind Robotics set to take orders for US$300m IPO: sources

Developer of 3D cameras and AI software for robots raises target by US$100 million amid investor enthusiasm.

HKEX

Next for Hong Kong’s exchange: ‘more products on our shelf’, HKEX boss pledges

After reporting record profit, CEO aims to establish a multiple-asset ecosystem and extend trading hours, starting with derivatives.

Robotics

Unitree Robotics surges 629% to US$66 billion valuation in Shanghai share debut

Stock jumps as first listing by humanoid robot maker draws 9.8 million retail investment accounts competing for just 9.7 million shares.

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People watch humanoid robots dance at the Unitree booth during the World Artificial Intelligence Conference in Shanghai on July 17. Photo: Reuters
Hong Kong stock market

Hong Kong exchange extends CEO Bonnie Chan’s term for 3 more years

Tenure to extend until 2030 for CEO who is ‘strengthening Hong Kong’s role as a leading international financial centre’, chairman says.

Bonnie Chan Yiting became the first woman to lead Hong Kong Exchanges and Clearing in 2024. Photo: Dickson Lee
Electric & new energy vehicles

China’s self-driving push gears up in Europe as Momenta, Pony.ai expand

Deutsche Bank raises its price target for Momenta while Pony.ai widens partnership with Uber to accelerate autonomous-vehicle roll-out in European cities.

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Semiconductors

Ingenic taps Hong Kong market to raise HK$3.2 billion for chip expansion

The semiconductor maker is set to raise a share offering in the city and begin trading later this month.

Hong Kong stock market

From chasing robots to chasing profits: the numbers moving markets

Unitree Robotics, US inflation rates, gold prices, Hong Kong homes and CK Hutchison’s interim results were in the spotlight this week.

Unitree’s G1 humanoid robots sit next to a child interacting with the company's GO2 robot at a Unitree store in Beijing on August 1, 2026. Photo: Reuters
Shein

Shein is eyeing a valuation rivalling H&M. Will the market buy it?

Ahead of its Hong Kong IPO, the e-commerce firm argues its supply chains and business model give it an edge over traditional rivals.

Packs of clothing are displayed at a garment factory for Shein in the Panyu district of Guangzhou on July 27. Photo: Reuters
Hong Kong economy

In Focus | What comes next for Hong Kong as a global financial hub?

Hong Kong needs more yuan products, commodity trading infrastructure and fintech innovation, market participants say.

Artificial intelligence

Chinese AI start-up ModelBest kicks off pre-IPO tutoring process on mainland

Company says it has hired Citic Securities to guide pre-listing preparation but has not announced further details of plans.

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Hong Kong stock market

Hong Kong seeks tech exposure amid Beijing’s rising AI dominance

The city is looking to expand stock benchmarks in an effort to challenge Nasdaq’s tech dominance.

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A view of the Hong Kong skyline on July 22. Photo: Jonathan Wong
Robotics

Unitree IPO deluge masks humanoid robots’ limitations

Retail investors subscribed for more than 5,500 times the shares on offer in Unitree Robotics’ offering amid hype about advances for humanoid robots and a run of Shanghai IPO windfalls.

Hong Kong stock market

Shein set for Hong Kong IPO next week, eyes US$35b valuation: sources

Singapore-based company, which was founded in China, aims to raise as much as US$2.8 billion and began gauging investor demand last week.

Robotics

Unitree IPO frenzy leaves retail investors with 1-in-5,500 odds

Robotics company’s US$900 million Star Market listing offers slimmer odds than recent offerings by CXMT, Moore Threads and MetaX.

Children stand near Unitree robots on display at a store in Beijing on Monday. Photo: Reuters
Robotics

AgiBot dethrones Unitree as world’s top humanoid maker ahead of IPOs

AgiBot’s shipments surged 562 per cent year on year, supported by a portfolio of full-size bipedals, compact units and wheeled robots.

An Agibot humanoid robot is pictured at the company’s facility in Shanghai, on August 4, 2026. Photo: Xinhua
Moore Threads

China’s ‘little Nvidia’ plans Hong Kong listing after 147% revenue jump

The Chinese AI chip developer plans a listing in Hong Kong to deepen its ‘international strategic footprint’.

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China’s private sector

Sugar for the pill: US$8b fund boosts Hong Kong’s biotech hub ambitions

Hong Kong Investment Corporation is stepping up its efforts to position itself amid Beijing’s challenge to US pharmaceutical dominance.

Robotics

Backed by DeepSeek, Unitree seeks US$9b valuation in landmark robotics IPO

DeepSeek, which invested 141 million yuan, will co-develop AI models and embodied-intelligence technology with Unitree.

Visitors interact with a robot from Unitree Robotics during the China International Consumer Products Expo in Haikou, south China’s Hainan province, April 14, 2026. Photo: Xinhua
Artificial intelligence

China’s Moonshot AI seeks US$50b round as year-end Hong Kong IPO eyed: sources

Unicorn dismantles offshore structure to pave way for potential listing as investor appetite surges after release of Kimi K3 model.

Kimi K3 has outperformed leading US systems from Anthropic and OpenAI in certain capabilities, according to Moonshot. Photo: Reuters
Robotics

China’s X Square Robot submits confidential filing for Hong Kong IPO: sources

The start-up joins a growing list of domestic robot makers in China raising capital.

Banking & finance

China’s foreign reserves hold steady as external earnings stay in private hands

Hong Kong absorbed nearly two-thirds of mainland China’s portfolio outflows last year and now holds about half of the total external stock, IIF says.

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