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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.
Exchange Square in Central. Photo: May Tse
Business of climate change

Shougang Lanzatech delays Hong Kong IPO again due to dispute with JV partner

The company provides no new guidance on listing and says it is ‘assessing an updated timetable’.

Robotics

Robot maker AgiBot seeks stake in Shanghai firm in potential back-door listing

Banking & finance

China’s CXMT eyes IPO amid global memory-chip market upswing

Hong Kong economy

Editorial | FWD’s IPO journey charts fall and rise of Hong Kong market

Hong Kong has reclaimed its place as a global IPO hub, and supportive policies mean more such success stories could be on the way soon.

From the left, FWD Group’s CEO Huynh Thanh Phong, founder Richard Li and chairman Frederick Ma Si-hang celebrate the pan-Asian insurer’s trading debut on the Hong Kong stock exchange on July 7. Photo: Sun Yeung
Banking & finance

Apple supplier Lens, 4 other stocks gain in busiest day for new listings in 2025

The shares of all five companies that made their trading debuts advanced from their IPO prices.

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Wealth Report

Chinese AIs fuel interest in Hong Kong IPOs

15 IPOs were announced in the city in the first quarter of 2025, according to KPMG, 6 of which raised more than HK$1 billion – many of these were tech companies.

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Banking & finance

Hong Kong IPOs gather speed with 2025 proceeds to reach US$32 billion: KPMG

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
Hong Kong

FWD rises as it ends listing quest with a win in its hometown market

The Hong Kong IPO is not the end-game for the home-grown Hong Kong insurer, as its CEO Huynh eyes a new growth phase.

Hong Kong economy

Hong Kong’s IPO boom a sign overseas investment push is working, Paul Chan says

Finance minister says market ‘optimistic’ that first-half performance will continue, as city rises to top of global IPO table.

Banking & finance

AirPod maker Luxshare next to plan IPO in Hong Kong as pipeline swells

At US$1 billion, Luxshare’s offering could rank among the 10 biggest Chinese tech listings in Hong Kong this year.

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Apple CEO Tim Cook talks to workers during a visit to Luxshare Precision Industry in October 2023. Photo: Weibo
Banking & finance

Chinese firms eye Hong Kong listings after mainland investors’ buying spree

Surging mainland buying interest has led to a growing number of A-share companies seeking dual listings in Hong Kong.

Mainland-listed Chinese firms are preparing for dual listings in Hong Kong amid a record surge in buying interest from Chinese investors. Photo: Jonathan Wong
Wealth Report

Retail services is the most prominent sector for IPO listings since 2024

Consumer and retail services made up a substantial share of IPOs in the last 18 months as innovative mainland companies eye international expansion.

HKEX

Hong Kong’s all-male boards are all but gone as firms embrace diversity

More than 800 women have been added as directors since 2022, when 40 per cent of boards were male only, according to HKEX.

Stocks

Regulatory curbs hurt mainland China IPOs, ceding first-half crown to Hong Kong

In the first half of 2025, 50 companies raised a combined US$4.7 billion by selling shares on the Beijing, Shanghai and Shenzhen exchanges.

People pass the Shanghai Stock Exchange. Photo: EPA-EFE
Hong Kong stock market

Top banks bullish on Hong Kong, China stocks amid policy support, earnings

Standard Chartered is overweight on allocations to Chinese equities, while UBS expects the premium between A and H shares to narrow further.

A man walks past an electronic display board at the Hong Kong stock exchange. Photo: Xinhua
Hong Kong stock exchange

Back at No 1: Hong Kong’s first-half IPOs soar eightfold to US$13.5 billion

A total of 42 companies raised US$13.5 billion on the main board of the Hong Kong stock exchange during the first half, LSEG data shows.

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Hong Kong stock market

Hong Kong stocks surge with boost from Trump

Shares in Hong Kong have surged 20 per cent this year as mainland stock buyers pour money into the city and global investors look for opportunities outside the US.

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Electric & new energy vehicles

Chinese EV battery firm Eve eyes second Malaysia plant

The US$1.2 billion facility, revealed weeks after company’s Hong Kong listing plan, will make batteries for energy-storage systems.

Eve Energy, based in Huizhou in China’s southern Guangdong province, said on June 9 its board had endorsed a Hong Kong listing plan aimed at bolstering its international expansion. Photo: Handout
Banking & finance

Apple supplier Lens Tech leads city’s new IPO filings with US$608 million deal

Company sets aside 11 per cent of base offering to local investors; upsize and overallotment options could swell total proceeds to HK$6.3 billion.

Banking & finance

Hong Kong’s IPO dominance leaves Singapore grasping for lost allure

The listings of IFBH and Mirxes underline Hong Kong’s superiority, but Singapore is not giving up, bankers and analysts say.

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HKEX

Ex-HKEX CEO Charles Li’s new venture aims to shake-up Hong Kong’s capital market

Charles Li’s newly launched Micro Connect International Finance hopes to raise more than HK$150 million under the Chapter 21 listing rule.

Charles Li’s newly launched Micro Connect International Finance has filed to list under HKEX’s Chapter 21 regime. Photo: Jonathan Wong
Banking & finance

Chinese smartphone maker Honor moves closer to onshore share listing

Mainland market’s fourth-largest smartphone maker first announced plans to list A shares in November 2023.

Honor’s logo hangs above the smartphone maker’s booth at the Shanghai New International Expo Centre in Shanghai on June 18, 2025, during the first day of the Mobile World Conference. Photo: Getty Images
Hong Kong

FWD files for Hong Kong listing amid slew of jumbo IPO deals

Insurer will get a market value of HK$48.3 billion based on its IPO share price of HK$38, before an overallotment option.

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Hong Kong stock market

Boss Zhipin taps buoyant Hong Kong market with US$288 million share offering

The maximum issue price per share was HK$78, representing a premium of around 14.04 per cent to Tuesday’s closing price of HK$68.40.

HKEX

China’s Anjoy Foods eyes Southeast Asia and Europe after Hong Kong listing

Frozen food supplier is expected to raise as much as US$336.3 million by floating just under 40 million shares in Hong Kong.

Inside an Anjoy facility in Fujian province. Photo: Handout
Stocks

Hong Kong investors hit jackpot as IPO boom delivers returns above 30%

Few asset classes globally match Hong Kong IPOs this year, as institutional and individual investors rush in hoping for eye-popping gains.

A man walks past an electronic display board at the Hong Kong stock exchange in Exchange Square in Central on May 20, 2025. Photo: Xinhua
Wealth Report

How Hong Kong’s market innovations are aiming to enhance the city’s trading environment

Reforms are being introduced to sustain the surge in public offerings that has made the city among the world’s leading IPO venues in the last 6 months.

Bonds

Chinese firms drive US$13 billion Asian boom in convertible bonds

Appetite for equity-linked debt is strong amid global volatility, even with aggressive terms, analysts say.

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