Hong Kong Fundraising Hits Record USD47.5bn as AI Boom Drives Share Sales

Hong Kong fundraising reached a record USD47.5bn during the third quarter as the artificial intelligence boom encouraged Chinese companies to raise larger amounts and return more frequently to equity markets, Bloomberg data showed.

Share sales pushed Hong Kong’s 2026 total above USD92bn, bringing the market within reach of the USD112.5bn annual record established in 2021.

Alibaba’s USD10.2bn follow-on offering was the quarter’s largest transaction, while optical-networking equipment maker Zhongji Innolight raised almost USD8bn in Hong Kong’s largest listing in nearly seven years.

AI model developer Z.AI has raised USD9.6bn this year through its initial public offering, placements and convertible bonds.

The resurgence extends beyond Hong Kong. Asia-Pacific share sales exceeded USD120bn during the third quarter, the highest total for the period in six years, demonstrating renewed investor appetite for equity issuance across the region.