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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.
HKEX chairman Carlson Tong and Deputy Financial Secretary Michael Wong strike the gong to mark the bourse operator’s 26th anniversary. Photo: May Tse
HKEX

Hong Kong vows stronger exchange with reforms, bond futures and gold push

Listing changes and new product launches are set to bolster Hong Kong’s role as a global financial hub, deputy finance chief says.

Wealth Report

Tech pioneers flocking to Hong Kong thanks to revamped listing rules

Banking & finance

Hong Kong’s IPO Connect push: why investors see it as the next frontier

Hong Kong stock market

HKEX pushes deeper into index business as AI reshapes Hong Kong market

The bourse wants proprietary indices to better capture China’s technology boom as traditional Hong Kong benchmarks trail regional peers.

Hong Kong Exchanges and Clearing at Exchange Square in Central. The bourse is expanding its index business with proprietary benchmarks and new investment products. Photo: Jelly Tse
Hong Kong stock market

Chinese PCB maker CFMEE tops 1,000-times oversubscription in Hong Kong IPO

The Hefei-based firm’s listing comes as the global AI boom fuels gains in the materials and components that underpin servers.

China’s private sector

iPhone supplier Luxshare passes key hearing for Hong Kong listing

The firm, a key supplier for AirPods and iPhones, is a step closer to joining other mainland Chinese tech heavyweights in HKEX listing.

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Artificial intelligence

Alibaba chip unit T-Head triples capital amid AI hardware bet

First injection in over three years comes as Alibaba works on full-stack AI infrastructure, from its Qwen models to chips to cloud services.

Alibaba has become more vocal about its chip unit this year and is reportedly working toward spinning it off with an initial public offering. Photo: Shutterstock
Hong Kong stock exchange

Momenta granted regulatory approval to list in Hong Kong amid rumoured crackdown

As Beijing appears to tighten rules on the listing of domestic firms incorporated offshore, self-driving tech start-up Momenta gains IPO approval.

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Artificial intelligence

From ‘rice’ to riches: China’s MLCC makers head to Hong Kong to list

Small, found in almost every electronic device and critical to AI servers, now the ‘rice of electronics’ is driving two Hong Kong IPOs.

China stock market

China to back ‘qualified’ foreign firms for listing on domestic markets

Government says foreign-funded companies would be aided in domestic listings, as well as mergers and acquisitions.

A large screen shows the latest stock exchange and economic data in Shanghai. Photo: EPA
Hong Kong economy

Hong Kong aims to offer more investment options for mainland Chinese: Paul Chan

Authorities on both sides reviewing broader Greater Bay Area trading scheme, finance chief says, adding crackdown on illegal trades will help city.

Exchange Square in Central. Finance chief Paul Chan says a well-calibrated expansion of cross-border stock trading will attract additional capital to the city. Photo: Jelly Tse
China’s private sector

Apple supplier Lingyi seeks US$1.1 billion Hong Kong IPO to fund AI and robotics

The Shenzhen-listed components maker is using a Hong Kong float to fund its push into AI servers, smart glasses and robotics.

Hong Kong economy

Hong Kong to roll out measures boosting offshore yuan trading in July

Government wants more listed firms trading stocks in renminbi and will use city’s hub status to help mainland Chinese firms expand overseas.

SpaceX

Letters | SpaceX’s historic IPO ignites investor appetite for space AI

Readers discuss how investor confidence in commercial space could benefit China, the US-Iran interim peace agreement, Japan’s 2-2 draw with the Netherlands in the Fifa World Cup, and the musical legacy of Anders Nelsson.

SpaceX CEO Elon Musk, displayed on a screen remotely from SpaceX headquarters in Starbase, Texas, speaks before the launch of SpaceX’s IPO at the Nasdaq MarketSite in New York City on June 12. Photo: AFP / Getty Images / TNS
Banking & finance

Opinion | AI has been known to hallucinate. So have financial markets

Stock markets are booming on the assumption that US tech giants will deliver, but as liquidity becomes scarce, a reality check will ensue.

A sign displays outside Nasdaq on the day of SpaceX’s initial public offering in New York on June 12. Photo: Reuters
Autonomous vehicles

Momenta moves closer to Hong Kong IPO after US listing setback

Autonomous-driving start-up seeks to issue up to 43.75 million shares after an earlier US IPO approval expired.

United States

SpaceX bankers prepare for potential US$20 billion bond offering, sources say

The offering ⁠would mark the first time the rockets-to-AI company has issued investment-grade dollar ‌bonds.

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Artificial intelligence

Shanghai charts IPO path for cash-hungry AI labs racing against US

The move aims to support listings of ‘high-quality’ AI firms that have yet to form ‘a certain scale of revenue’.

A large screen shows the latest stock exchange and economic data in Shanghai on May 6. Photo: EPA
Banking & finance

Global investors still in China’s orbit despite SpaceX IPO: HKEX chief

HKEX chief Bonnie Chan says global investors remain focused on China’s innovation story.

Semiconductors

Chinese chip-equipment maker CFMEE targets US$410 million in Hong Kong IPO

The Hefei-based firm has attracted 17 cornerstone investors and plans to use proceeds for R&D, acquisitions and expansion.

United States

SpaceX vaults past Amazon’s market value, briefly topping Microsoft

Elon Musk’s company was worth roughly US$2.655 trillion at closing – some US$800 billion more than at its record IPO last week.

A sign is displayed outside Nasdaq on the day of SpaceX’s initial public offering in New York on Friday. Photo: Reuters
Tourism

Mainland China theme park operator applies for listing in Hong Kong

Company operates Millennium City Park in Kaifeng, a life-size recreation of a famous painting from the Northern Song dynasty.

An interactive digital display of “Along the River During the Qingming (Ching Ming) Festival” at the Palace Museum in Beijing in July 2018. Photo: Simon Song
Hong Kong stock market

Can Hong Kong investors weather US$274 billion lock-up expiry wave?

A surge of freed shares will challenge Hong Kong’s stock market, with analysts pointing to inflows and corporate support as key buffers.

Banking & finance

Lower bar to entry for innovative firms to list in Hong Kong, chamber says

The proposal could better serve Hong Kong as gateway for mainland firms to go global and for overseas firms to invest in Asia, the group says.

Hong Kong economy

HKEX, Kazakhstan’s AIFC explore dual listings with miners after landmark debut

Head of Astana’s special financial zone says deals signed with Hong Kong during John Lee’s visit mark ‘important milestone’ for cooperation.

The Astana International Financial Centre is a special zine in Kazakhstan that uses common lew. Photo: AIFC
Stocks

Macroscope | Moment of truth is coming for the AI stock boom

Tech barons are seeking to raise outrageous sums before the balloon goes up. If it does, where will portfolio investment go?

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SpaceX initial public offering signage in the Morgan Stanley building in New York on June 9. Photo: Reuters
Millionaires, billionaires and trillionaires

Musk is world’s first trillionaire – what could he buy with all that money?

The SpaceX boss has reached a level of wealth that is hard to understand in real terms. But we’re going to try.

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United States

Elon Musk becomes world’s first trillionaire after SpaceX IPO

The company’s shares hit US$160.95 each, propelling the world’s richest person’s fortune to US$1.1 trillion.

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