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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.
An Insilico Medicine facility in Suzhou pictured in 2022. Insilico is touting a new AI-enabled drug discovery for treating lung disease weeks after filing its third prospectus in as many years to the Hong Kong stock exchange. Photo: Handout
Artificial intelligence

Biotech firm touts new AI drug discovery amid third Hong Kong IPO attempt

Insilico Medicine said results of a clinical trial in China showed positive results in treating idiopathic pulmonary fibrosis.

Banking & finance

Opinion | As geopolitics hits venture capital, Asia must start funding its own tech

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Food and Drinks

Why Chinese fresh-drink firms could leave investors high and dry

ETFs

Exclusive | Thematic Hong Kong AI and biotech ETFs next for Saudi investors: exchange CEO

Proposed new rules could allow Hong Kong companies to list on Saudi Exchange by offering depositary receipts, CEO Al-Rumaih says.

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Mohammed Sulaiman Al-Rumaih, CEO of Saudi Exchange, pictured at the Capital Markets Forum in Hong Kong on Thursday. Photo: May Tse
Banking & finance

Exclusive | FWD targets July listing in Hong Kong after adding IPO bankers, sources say

Insurer added CMB International and HSBC as overall coordinators on Thursday, joining Goldman Sachs and Morgan Stanley on the panel.

Banking & finance

3 ‘formidable’ clusters of companies targeting Hong Kong IPOs, HKEX CEO says

The IPO pipeline in Hong Kong includes mainland Chinese A-share firms, US-listed Chinese firms and specialist companies.

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Banking & finance

5 Chinese firms seek Hong Kong IPOs, joining fundraising flurry

Proceeds from these proposed listing plans are likely to strengthen Hong Kong’s lead in the global IPO league table.

The bronze bulls in front of the Hong Kong stock exchange at Exchange Square in Central on May 30, 2019. File photo: Warton Li
Stocks

Exclusive | Hong Kong to dominate 2025 IPOs as mainland Chinese firms rush to list: UBS

As many as 30 Chinese companies poised for dual listings this year, co-head of global banking at UBS Securities says.

SCMP Exclusives

Exclusive | Hong Kong to ride IPO wave as global investors pour in, JPMorgan says

A number of companies will attract support like CATL did in its US$5.23 billion debut, JPMorgan’s Paul Uren says.

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China economy

Opinion | In picking Hong Kong over New York, CATL’s IPO was a strategic move

CATL’s geopolitical moves, from spurning Wall Street to partnering Indonesia’s green transition, speak volumes about the future of competition.

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CATL’s headquarters in Ningde, Fujian province, China, on February 6. Photo: VCG via Getty Images
Hong Kong economy

Hong Kong’s ‘bustling’ IPO market exceeds HK$76 billion mark this year

Battery giant powers the city back to global IPO top spot as finance chief highlights ties with the mainland as key to long-term development.

Contemporary Amperex Technology, which supplies the likes of Tesla and Volkswagen, saw its shares jump by more than 16 per cent in its listing last week, raising HK$41 billion. Photo: Sun Yeung
Hong Kong Stock Exchange

Jiangsu Hengrui jumps 25% in solid Hong Kong trading debut

Company raises HK$9.89 billion (US$1.29 billion), with the proceeds to be used to support clinical trials and expand production capacity.

Banking & finance

Goldman to merge Asia-Pacific investment banking businesses

Bank says move will ‘enable more holistic client engagement, more effective deployment of global and regional expertise’.

Hong Kong economy

Editorial | CATL’s debut a sign that Hong Kong’s IPO market is roaring back

The world’s biggest listing so far this year has propelled the city back to the top spot in global equities fundraising.

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Representatives of CATL are seen at the company’s listing ceremony at the HKEX Connect Hall in Central. Photo: Sun Yeung
Electric & new energy vehicles

CATL’s EV battery plants to become carbon neutral this year, founder Zeng says

Company will offer its technologies and solutions to its partners globally to promote clean energy.

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CATL’s overall carbon emissions fell 34 per cent year on year to 2.1 million tons in 2023. Photo: Reuters
CATL

Hong Kong regains No 1 spot in global fundraising on CATL’s US$5.2 billion IPO

EV battery maker’s shares advance 16.4 per cent to close at HK$306.20 on the first day of trading in the city.

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HKEX

Richard Li’s FWD files to list in Hong Kong amid rising IPO wave

The insurer has received preliminary interest from potential investors for its third attempt to list in Hong Kong, sources say.

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Ant Group

Ant Group’s global unit pulls in US$3 billion in revenue ahead of spin-off

Ant International could fetch an IPO valuation of between US$8 billion to US$24 billion if it lists in Hong Kong, analysts say.

The Ant Group logo seen inside the fintech company’s headquarters in Hangzhou, capital of eastern Zhejiang province. Photo: Reuters
Banking & finance

Hong Kong prepares for a homecoming as mainland firms face US delisting threats

Delisting pressure on US-listed companies from the mainland could be a jackpot for Hong Kong markets.

China stock market

CATL’s dilemma: top-of-the-range Hong Kong IPO price may cap first-day gains

EV battery maker’s 6.7 per cent discount to its Shenzhen-traded shares is much lower than the average 25 per cent discount for dual-listed Chinese firms.

China consumption

Green Tea makes tepid Hong Kong debut as IPO frenzy takes a pause

Shares of the restaurant chain began trading at HK$7.19 per share, before plunging 7 per cent to an intraday low of HK$6.69.

An undated photograph of the signage of Green Tea Group, a Hangzhou-based restaurant chain. Photo: handout
Electric & new energy vehicles

China’s CATL powers up for overseas push with US$4.6 billion Hong Kong IPO

City’s largest share sale in four years shows Beijing’s determination to push China’s EV technologies worldwide, analysts say.

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A view of the headquarters of Contemporary Amperex Technology in Ningde, in southeast China’s Fujian province, on November 15, 2024. Photo: AFP
Banking & finance

China’s biggest drug company launches billion-dollar Hong Kong IPO

Singapore-based medical testing firm Mirxes joins Jiangsu Hengrui Pharmaceuticals in revitalised market’s listing surge.

Banking & finance

CATL set to price US$4.6 billion IPO at top end of range as Hong Kong investors pile in

World’s largest maker of electric-vehicle batteries could expand its IPO deal to as much as US$5.3 billion if several upsize options are exercised.

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CATL

Chinese EV battery giant CATL launches US$5.3 billion Hong Kong IPO

Listing is expected to be the largest in Hong Kong since Kuaishou Technology raised US$6.2 billion in January 2021.

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A model of CATL’s second-generation Shenxing Superfast Charging Battery is displayed during CATL Tech Day ahead of the Shanghai Auto Show in Shanghai on April 21, 2025. Photo: AFP
Sany

Exclusive | Heavy equipment maker Sany to expand overseas after Hong Kong IPO

Aiming to raise up to US$1.5 billion in its proposed listing, company eyes lucrative overseas sales amid weak demand at home.

Employees work on the assembly line inside a Sany factory in Zhejiang province in April 2023. Photo: Getty Images
Banking & finance

More Hong Kong IPO hopefuls emerge as sentiment draws investors

SAIC Mobility unveiled its plans on Friday; others like Mirxes, Insilico and CiDi revive their applications, according to exchange filings.

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Banking & finance

Hong Kong IPOs sizzle, spurred by inflows from global, Chinese funds

Shares of Chinese bubble-tea chain Auntea Jenny surge as they join growing list of companies with stellar debuts.

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