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Hong Kong ends 2022 with five listings, closing a tough year with a bang as IPOs trickle back

  • Executives of Kingsoft Cloud, AustAsia and Super Hi International Holding struck the HKEX’s ceremonial gong to mark their companies’ trading debut
  • Shanghai Cryofocus Medtech and Shandong Boan Biotechnology attended their trading debut virtually via teleconferencing

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Executives of three of the five companies that listed for the first time today struck the ceremonial gong at the Hong Kong stock exchange on 30 December 2022 to mark their trading debut. From left: AustAsia Chairman Tan Yong Nan, AustAsia CEO Edgar Collins, Kingsoft Cloud’s Chief Financial Officer He Haijian, Senior Vice President Liu Tao, Super Hi’s Chairman Zhou Zhaocheng. Photo: Enoch Yiu
Enoch Yiu
Five stocks changed hands for the first time today in Hong Kong, the busiest debut day in almost three years for the local bourse that helps its effort to reclaim a spot among the world’s top destinations for initial public offerings (IPOs).
Executives of three of the five debutantes struck ceremonial gongs at the former trading hall of the city’s stock exchange to mark their companies’ first trading day, while Shanghai Cryofocus Medtech and Shandong Boan Biotechnology attended their debut virtually via teleconferencing. Futu Holdings postponed its listing just before the Chinese securities regulator commenced an investigation into its cross-border online brokerage business.

The HK$394 million (US$50.51 million) raised by three of the five companies – Boan, Cryofocus and the milk producer AustAsia Holdings – are a much-needed boost for Hong Kong as it clings to third place behind Shanghai and Shenzhen among the world’s top IPO destinations in 2022.

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The buzz of activities augurs well for the 180 companies that await in the pipeline to launch their IPOs in Hong Kong, which was the world’s top IPO destination in seven of the previous 13 years.

Kingsoft Cloud and Super-Hi International Holding listed their shares by introduction, a quicker method that allows listed stocks from another exchange be traded in Hong Kong without raising fresh capital. Super Hi was the offshore spin-off of the Chinese hotpot restaurant chain Haidilao.

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