Hong Kong IPO Pipeline Exceeds 210 as Fundraising Surges to HKD127bn

Hong Kong is handling more than 210 IPO applications, with fundraising in the first seven months reaching HKD127bn (USD16.3bn) from 53 deals, six times higher than a year earlier and already surpassing annual totals of the past three years. The surge far outpaces the global IPO market, which recorded only a 10% rise in funds raised and a 5% decline in deal numbers in H1 2025. Large Hong Kong floats included four offerings above HKD5bn each and seven dual A+H listings, raising around HKD77bn in total, underscoring the city’s position as a key conduit between mainland China and international capital.