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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.
Unisplendour was expected to raise US$1 billion from its Hong Kong share sale this year. Photo: Reuters
Mainland China

Shenzhen-listed Unisplendour abandons plan to raise funds in Hong Kong

The Tsinghua Holdings arm, however, will raise US$800 million via a private share placement on Shenzhen exchange.

Bonds

Hong Kong firms rush to issue convertibles – and trend could continue: bankers

Hong Kong stock market

Hong Kong urged to widen Stock Connect and woo global firms to boost listings

Banking & finance

Will Hong Kong, Singapore capture Asia’s capital inflows? DBS CEO weighs in

The two financial hubs are best choices for global investors seeking to diversify their portfolios amid geopolitical risks, Tan Su Shan says.

Interest rate cuts and geopolitical tensions are spurring international investors to eye faster-growing Asian markets, particularly Hong Kong and Singapore, according to DBS. Photo: Jonathan Wong
Hong Kong property

How Hong Kong’s headquarters economy fuels rebound in commercial property

The headquarters economy is powering office and retail recovery, with rising demand, stabilising rents and renewed investor confidence.

Hong Kong stock exchange

China’s biggest pork producer Muyuan flat in Hong Kong share debut

Firm’s US$1.4 billion IPO records lower oversubscription rate than other recent listings, reflecting a cooling of the red-hot market.

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Hong Kong courts

Opinion | Those betting on Hong Kong’s bright future have backed a winner

The ‘one country, two systems’ framework, enshrined in the Basic Law and staunchly supported by the central government, has allowed the city to flourish.

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Illustration: Craig Stephens
Made in China 2025

Morgan Stanley sees another record year for Hong Kong IPOs as pipeline hits 450

Mainland China’s issuers will still dominate city’s IPO market, executive says, but US and Southeast Asian companies are also joining in.

HKEX

HKEX eyes expansion into fixed income as global investors reassess US exposure

Global investors want more than equities, prompting HKEX to expand into bonds and commodities, says CEO.

Britain

‘Vibrant’ Hong Kong market seen drawing more listings from abroad

But other markets like South Korea could offer stronger near-term returns for international investors, J.P. Morgan Private Bank says.

Softcare chairman Shen Yanchang (left) and CEO Luo Jichao take part in a listing ceremony at the Hong Kong stock exchange on November 10, 2025. Photo: Yulu Ao
Semiconductors

Mainland memory firms eye Hong Kong for funds to fuel ‘global ambitions’

Several suppliers aim to follow in the footsteps of Montage Technology, which is set to raise US$896 million and debuts next week.

Montage Technology expects to raise as much as US$896 million from its Hong Kong initial public offering. Photo: Handout
Hong Kong stock market

Chinese energy drink maker Eastroc’s shares debut flat in Hong Kong

Eastroc, which raised US$1.3 billion in city’s biggest IPO so far this year, draws strong retail demand amid heightened regulatory scrutiny.

SFC

Hong Kong IPO boom strains sponsors as regulator steps in over poor applications

SFC warns over deal-chasing, staff shortages and unchecked use of AI undermining IPO preparations.

Mainland China

Hong Kong back in global IPO spotlight after strongest January in years

IPO pipeline swelled in January, with listing applications tripling year on year and proceeds reaching their second highest level on record.

Chinese artificial intelligence start-up MiniMax Group raised US$711 million in January, the largest in Hong Kong and the third biggest IPO globally for the month. Photo: Shutterstock
China economy

3 Chinese firms add to Hong Kong’s IPO boom with US$2 billion in fundraising

Muyuan Foods, Shenzhen Han’s and Distinct Healthcare started taking orders for their Hong Kong listings on Thursday.

Muyuan Foods, the world’s largest hog firm, plans to sell about 274 million new shares at up to HK$39 each. Photo: Shutterstock
Hong Kong economy

Editorial | Hong Kong’s future as a financial centre looks golden

Tangible progress, including a gold trading deal with Shanghai, on display at the Asian Financial Forum shows the city is far from losing its edge.

Stocks

Chinese drinks maker Eastroc’s US$1.3 billion Hong Kong IPO gives it wings

Shanghai-listed firm is selling 40.9 million shares for HK$248 each, which would give it a market cap of about US$21 billion.

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Stocks

Chinese tech listings shine in Hong Kong amid Beijing’s self-reliance push

Outperformance so far this year shows the theme remains a boon for investors in a challenging environment, analysts say.

A view of Biren Technology’s listing ceremony in Hong Kong on January 2, 2026. Photo: Jonathan Wong
Banking & finance

UBS, Citigroup, Morgan Stanley boost bonus for investment bankers by 20%

Fundraising on the Hong Kong stock exchange reached US$37.22 billion last year, the highest since US$42.97 billion in 2021.

Semiconductors

Alibaba, Baidu’s IPO plans for AI chip units bolster China’s self-reliance drive

Alibaba’s T-Head and Baidu’s Kunlunxin intensify competition to unseat Nvidia as China’s top supplier of high-performance AI chips.

Mainland China

From labs to listings: capital markets are the next battleground in the AI race

Stock exchanges have become another barometer in the US-China tech rivalry as markets assess a wave of start-ups in real time.

Illustration: Henry Wong
Shanghai Fosun Pharmaceutical

China’s Fosun Pharma eyes spin-off Hong Kong IPO of vaccine unit

Fosun Adgenvax (Chengdu) joins an IPO wave that raised more than US$1.5 billion last year for biotech companies.

Fosun Adgenvax is expected to remain a subsidiary of Fosun Pharma, which currently owns a 70.08 per cent stake. Photo: Handout
Semiconductors

Alibaba prepares potential spin-off, listing of chip unit T-Head

The wholly owned chip unit will first be restructured into a separate business partly held by employees, Bloomberg reported, citing sources.

Semiconductors

Memory chip crunch to persist even as Samsung, SK Hynix, Micron boost production

Major vendors are scrambling to expand production, but the scarcity of general-purpose memory chips is forecast to continue well into 2027.

HKEX

New energy, AI, EV and biotech to drive Hong Kong IPO growth: HKEX

11 companies raised US$4 billion in Hong Kong in the first three weeks of 2026, with hundreds more lining up to list, Bonnie Chan says.

HKEX will continue to help innovators access capital more efficiently, says Bonnie Chan. Photo: Edmond So
Banking & finance

China’s Busy Ming to test investor appetite with Hong Kong IPO

Snack and drink retailer aims to raise up to US$428 million, but listing plan comes amid weak mainland domestic demand.

Hong Kong’s IPO market has had a record January with 11 new listings raising more than US$4.3 billion. Photo: Nora Tam
Robotics

China’s Unitree ships over 5,500 humanoid robots in 2025, surpassing US peers

The Hangzhou-based firm’s output far outstripped the roughly 150 units each shipped by Tesla, Figure AI and Agility Robotics last year.

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Banking & finance

Hong Kong AFF will showcase city’s ‘superconnector’ role

Titled Co-creating New Horizons amid an Evolving Landscape, the annual government flagship event will run from January 26 to 27.

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