Hong Kong may reclaim spot in top three global IPO markets in second half on a slew of expected mega tech offerings

A total of 180 IPOs raising between US$20b to US$22b is expected for 2018, according to Deloitte

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The Hong Kong stock exchange in the city’s Central district. Potential unicorn and mega listings in Hong Kong include smartphone vendor Xiaomi, which is expected to list soon, and telecoms tower operator China Tower. Photo: Dickson Lee

Published: 7:45pm, 19 Jun 2018Updated: 10:51pm, 19 Jun 2018

Hong Kong has a high chance of reclaiming a spot in the top three global IPO league table in the second half of the year, with the total capital raised expected to reach as much as HK$140 billion (US$17.8 billion) from a flurry of new economy listings that would include well-known Chinese technology unicorns, according to Deloitte on Tuesday.

The potential pipeline of unicorns and mega listings include smartphone vendor Xiaomi – expected to list soon – and telecoms tower operator China Tower, which has filed a listing application to the Hong Kong stock exchange to raise as much as US$10 billion.

Another potential candidate is ride-hailing firm Didi Chuxing, reportedly considering a Hong Kong initial public offering (IPO) in the second half and hopeful of securing a valuation of between US$70 billion to US$80 billion. Restaurant review and delivery firm Meituan-Dianping is also mulling a Hong Kong listing to raise US$6 billion, according to various media reports.

Others such as mainland Chinese live streaming platform Yingke has also applied for a Hong Kong listing while rival Douyu TV, backed by Tencent, video and photo-sharing app Kuaishou, and online ticketing provider Maoyan Weiying are considering going public in the city.

Starting July, we are going to see many listings by new economy companies, including some famous Chinese unicorns

Edward Au, co-head Deloitte China’s national public offering group

Hong Kong’s ranking in the global IPO league table slipped to No 5 in the first half of the year in the absence of big IPOs, with total funds raised dropping a two-year low of HK$50.3 billion.

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Hong Kong may reclaim spot in top three global IPO markets in second half on a slew of expected mega tech offerings

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}A total of 180 IPOs raising between US$20b to US$22b is expected for 2018, according to Deloitte

A total of 180 IPOs raising between US$20b to US$22b is expected for 2018, according to Deloitte