Hong Kong IPO Market Set for Strongest First Half in Years, Says EY

Hong Kong is on course for one of its strongest initial public offering performances in recent years, with EY forecasting that the Hong Kong IPO market will deliver 84 listings raising HKD209.8bn (USD26.8bn) during the first half of 2026.

The projected fundraising would rank Hong Kong second globally and represents proceeds 92% above the average first-half level recorded over the past five years.

EY maintained its full-year forecast of HKD320bn in IPO proceeds, citing a robust pipeline of more than 420 active listing applicants.

A further 59 mainland Chinese companies have already received approval from domestic regulators but have yet to complete their Hong Kong listings.

The Hong Kong IPO market continues to be supported by strong demand for A+H listings, particularly among companies operating in artificial intelligence, biopharmaceuticals, new energy and consumer industries.

However, EY cautioned that investor sentiment could face headwinds from IPO lock-up expiries worth up to HKD1tr and changing expectations for US interest rates during the second half of the year.