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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.
The SpaceX logo displayed at the Kennedy Space Center in Cape Canaveral, Florida. Photo: AP
SpaceX

How Hong Kong investors can gain exposure to SpaceX’s record-breaking US$75b IPO

Options for potential exposure include brokerages offering access to US stocks, buying into SpaceX’s partners, and exchange-traded funds.

Hong Kong stock market

SpaceX share sale won’t drain Hong Kong IPO boom, JPMorgan says

Artificial intelligence

China’s AI start-up funding triples in first quarter amid bets on LLMs, robotics

SpaceX

SpaceX’s US$75 billion IPO sparks liquidity fears as Fed rate-increase odds rise

The blockbuster offering’s repercussions could be far-reaching, drawing capital away from Hong Kong and the broader Asia-Pacific region.

The SpaceX Starship sits on the launch pad ahead of its sixth flight test from Starbase in Boca Chica, Texas, on November 17, 2024. Photo: AFP/Getty Images/TNS
Semiconductors

What is YMTC, the latest contender in China’s memory-chip IPO push?

As China’s memory-chip giants YMTC and CXMT progress towards IPOs, they shine a spotlight on Beijing’s tech self-sufficiency ambitions.

HKEX

Hong Kong set to be ousted by Nasdaq as world’s biggest IPO market

International investors remain interested in Hong Kong tech listings due to attractive valuations, UBS and JPMorgan say.

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Artificial intelligence

Why is Chinese DRAM maker CXMT’s IPO attracting so much attention?

ChangXin Memory Technologies is sparking investor interest as DRAM profits soar, AI drives shortages and China pushes for chip self-reliance.

ChangXin Memory Technologies (CXMT) has seen profits increase amid the rising price of memory. Photo: Handout
Aerospace: Companies

Top Numerical Control rides fervour for aerospace to 80% IPO gain

Revenue from aviation and aerospace manufacturing equipment has accounted for around 90 per cent of its total since 2022.

Technology

Opinion | Quantum IPO wave is a milestone. It should also come with a warning

Like with the dotcom bubble, investors are piling into companies exploring technologies with a commercial future that is not yet clear.

Artificial intelligence

China’s Moonshot AI moves to unwind offshore structure in IPO pursuit: sources

Beijing-based unicorn tells shareholders it will dismantle VIE model as regulators tighten oversight, as shift may signal new era for foreign tech investment.

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Founder of Moonshot AI Yang Zhilin speaks at the 2026 Zhongguancun Forum in Beijing on March 25. Photo: Reuters
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.

A jury rejected Elon Musk’s claims that OpenAI under Sam Altman’s leadership betrayed its mission to benefit the public. Photo: AFP
Semiconductors

CXMT’s soaring profits lift China’s semiconductor stocks

The Hefei-based DRAM producer reported revenue of US$7.4 billion in the first quarter, up 719 per cent from a year earlier.

Artificial intelligence

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

Firm raised US$2 billion from investors including Meituan’s venture and China Mobile, taking total to US$3.9 billion in the last six months.

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.

A view of Admiralty and Central is seen through the glass windows of the Hong Kong Convention and Exhibition Centre in Wan Chai, April 14, 2026. Photo: Jelly Tse
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.

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.

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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.

Proceeds will be used to fund the construction of wind and solar projects, according to the company’s prospectus. Photo: Shutterstock
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.

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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Luxury homes and residential buildings on Mount Kellett Road, The Peak. Photo: Roy Issa
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.

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.

Factory of Nvidia supplier Victory Giant Technology. Photo: Handout
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.

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.

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