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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.
People visit an Anthropic booth at Moscone Center during the Dreamforce 2026 technology summit in San Francisco last month. Photo: Reuters
United States

Anthropic’s IPO filing shows explosive growth, risks and staggering costs

Anthropic is pressing ahead with its IPO plans even as a once-busy autumn listing calendar has thinned out.

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Hong Kong stock market

Dongshan Precision retail IPO undersubscribed as Hong Kong mega listing flops

Hong Kong stock market

Hong Kong sees IPO cancellations amid uptick in regulatory checks, weak market

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Artificial intelligence

Why Anthropic has a major China problem ahead of its blockbuster IPO

Surging demand for low-cost Chinese AI models is sparking investor jitters, with some fearing ‘massive capital destruction’ in Silicon Valley.

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Anthropic is facing investor concerns ahead of its initial public offering, as demand for lower-cost Chinese AI models surges. Photo: Shutterstock
Hong Kong stock market

Suzhou Dongshan raises less than expected in US$1.8b Hong Kong IPO

With the overallotment, the circuit board maker could raise US$1.84 billion, compared with expectations of up to US$3 billion a week ago.

Semiconductors

CXMT shares fall 7.8% despite record 9-month profit

The firm also forecasts a 742 per cent revenue surge year on year.

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SFC

Hong Kong’s IPO fraud clampdown sends shock waves across financial sector

The tougher scrutiny is forcing the capital market to recalibrate, as sponsors become more cautious and some firms cancel listings.

Hong Kong’s securities regulator has tightened scrutiny over initial public offerings in recent months. Photo: Nora Tam
Semiconductors

China’s YMTC to grow revenue 6 times faster than peers as IPO nears: report

Country’s top NAND maker bets on enterprise SSDs and AI infrastructure to drive next phase of growth, Counterpoint says.

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Hong Kong stock market

Hong Kong watchdog freezes US$590m of assets over alleged IPO fraud schemes

The SFC has also suspended 65 listing applications so far this year, as regulator looks to strengthen market quality in the city.

Hong Kong stock market

Tepid response to Hong Kong listing of Africa’s top phone maker

Shenzhen Transsion’s US$428 million offering oversubscribed just 3.5 times, sources say, as sharp decline in listing sentiment continues.

Banners for Transsion’s brand Tecno are seen on a street in Nairobi, Kenya. Photo: WEIBO/ @品玩
Banking & finance

Hong Kong must ease listing rules to attract more angel funds, start-ups: HKEIA

Hong Kong could learn from the US market, where streamlined regulations foster a thriving ecosystem of angel funds and start-ups, an industry body says.

Samson Tam, honorary chairman of the Hong Kong Electronic Industries Association, poses for a photograph in Tsim Sha Tsui. Photo: Karma Lo
Banking & finance

In Focus | China’s investment banks have come of age. Can they win beyond Hong Kong?

China’s securities firms are pursuing global ambitions, but winning non-Chinese clients may prove the toughest test.

Hong Kong stock market

Hong Kong IPO boom at risk as big backers get cold feet: sources

At least one listing postponed, while bankers scramble for investors to keep other offerings on track, according to sources.

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Hong Kong stock market

Transsion, Africa’s top phone maker, targets US$500 million Hong Kong listing

The Shanghai-listed smartphone manufacturer behind Tecno and Infinix is eyeing an October 15 trading debut in Hong Kong.

The Tecno Spark 8c pictured in Casablanca, Morocco. The budget-friendly handset is made by Tecno, a subidiary of Transsion. Photo: Shutterstock
Hong Kong stock exchange

Hong Kong’s big IPO haul

Hong Kong is having its busiest year for initial public offerings since 2020, with a surge in the first nine months driven by artificial intelligence-related companies from mainland China.

Hong Kong’s big IPO haul
Banking & finance

Hong Kong set for first listed property debt fund as banks pull back

Private equity firm Gaw Capital lines up US$291 million pipeline of deals as banks scale back exposure to riskier property lending.

Hong Kong economy

Hong Kong’s IPO haul more than doubles to HK$388b in first 9 months: Paul Chan

Finance chief says amount raised has surpassed whole of 2025, while HKIC’s CEO says over 30 portfolio firms preparing to apply for listings this year.

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Hong Kong stock market

Hong Kong IPOs falter, China aids homebuyers, EU trade talks

This week: Hong Kong IPOs stumble amid supply deluge, China announces mortgage subsidies and cuts policy bank rates, US and China pare tariffs on US$30 billion of each-way trade. Next week: China-EU hold crunch trade talks, Brazilians go to the polls, Hong Kong Election Committee nominations open, NBA returns to Macau, and more.

Executives of RoboTechnik Intelligent Technology, Shenzhen Kinwong Electronic, Direct Drive Tech Limited, Red Avenue New Materials Group and ChinaAMC Franklin FTSE Innovative Drugs ETF attend their listing ceremony in Hong Kong. Photo: Reuters
Hong Kong stock market

Hong Kong’s first 9 months of IPOs break record, but Nasdaq leads capital race

A growing pipeline and potential megadeals bolster hopes of a record IPO year for the Hong Kong stock exchange, industry players say.

Hong Kong stock exchange

Mainland China’s PCB giant clears final hurdle for Hong Kong listing: sources

Shenzhen-listed Dongshan Precision’s share sale could rank among the city’s largest IPOs in the fourth quarter, sources say.

Hong Kong stock market

Hong Kong’s IPO revival faces test as 3 new stocks stumble on debut

The city’s busiest week for listings since July comes after a mixed third quarter when 14 of 30 new stocks debuted below their offer prices.

Executives and guests attend the listing ceremony of RoboTechnik Intelligent Technology the Hong Kong stock exchange on Tuesday. Photo: Reuters
Semiconductors

Betting on light: why China’s CanSemi is drawing record demand ahead of debut

Momentum builds for CanSemi’s Shenzhen debut as investors back its silicon photonics push and role in domestic AI infrastructure.

A chip produced by CanSemi Technology. Photo: Getty Images
Mainland China

‘Little giant’ chipmaker Amicro clears key hurdle for Hong Kong listing: sources

Company plans to launch premarketing as early as this week and aims for a mid-October debut, sources say.

Semiconductors

Chinese chipmaker Eswin Computing to launch US$300m Hong Kong IPO: sources

Revenue reached 2.4 billion yuan in 2025, up 20 per cent year on year, but net losses for the year stood at 1.5 billion yuan.

Banking & finance

Rivals move to poach Morgan Stanley clients after accidental deal leak

The affected clients have not taken legal action against Morgan Stanley or requested a replacement sponsor, according to a source.

An accidental disclosure of confidential information by a Morgan Stanley employee has sent ripples through Hong Kong’s investment banking industry. Photo: Dickson Lee
Mainland China

China’s humanoid robot IPO slowdown no threat to firms with ‘genuine strength’

The market is shifting from a ‘blind rush’ to ‘fine screening’, but funding is still there for firms with clear strategies, Deloitte China says.

Humanoid robots by Unitree Robotics demonstrate a group dance during an expo in Beijing. Photo: Reuters
Banking & finance

Morgan Stanley leak of confidential deal pipeline alarms Hong Kong market

Morgan Stanley says it ‘promptly took steps to address this inadvertent sharing of information’ and that it is engaged with relevant parties.

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China stock market

1,700% share surge for Chinese compressor maker exposes listing risks

Bourse operator dampens ShenGu Group frenzy, but large population of individual investors and exchange rules make IPO speculation likely.

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