Hong Kong IPO Market Surges Sixfold to USD16.4bn in 2024 Listing Boom

The Hong Kong IPO market surged in the first seven months of 2024, with 53 companies listing and total IPO fundraising climbing over sixfold to HKD127.9bn (USD16.4bn) from a year earlier. According to Hong Kong Exchanges and Clearing, the bourse remained among the world’s most active, driven by growing demand for risk diversification. Listings included a GEM-to-Main Board transfer and a SPAC merger. Total market fundraising reached HKD331.8bn, a near 200% increase, while average daily turnover rose 120% to HKD243.7bn. By end-July, market capitalisation had grown 44% year-on-year to HKD44.9tr. Meanwhile, Exchange Traded Fund turnover surged 180% to HKD33.3bn, reflecting broader investor participation in the rally.