Hong Kong’s IPO market to end 3-year slump amid China support, rising confidence

Fundraising reached HK$83.4 billion (US$10.7 billion) this year through November 30, according to data compiled by EY, an increase of 80 per cent from a year earlier. The local IPO market slumped for a third straight year in 2023 when volume dropped to US$5.9 billion, according to LSE Group data.

Globally, companies have completed 1,162 IPOs this year involving US$117.3 billion of proceeds, representing a 14 per cent and 7 per cent decrease, respectively, it added.

Growing confidence among investors in Hong Kong has helped lure several attractive and jumbo IPOs to the market, according to Louis Lau, partner at Hong Kong capital markets group KPMG China, including Midea Group’s US$3.98 billion offering in September and SF Holding’s US$793 million deal in November.

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Boom or bust: how sustainable is China’s stock frenzy?

Boom or bust: how sustainable is China’s stock frenzy?