KPMG Tips Hong Kong Back to Top Tier of Global IPO Markets

Hong Kong’s initial public offering (IPO) market is forecast to raise up to HKD350bn (USD45bn) next year as momentum from mainland Chinese issuers and technology listings lifts the city back toward the top tier of global exchanges, KPMG said.

The firm expects 180 to 200 listings in 2026, implying as much as a doubling in deal numbers and a 28.7% jump in proceeds from this year, when about 100 newcomers raised HKD272bn.

Much of the activity has come from A+H listings, which brought in HKD136.5bn across 17 deals, alongside new-economy names in innovation, biotechnology and new energy.

With 92 active A+H applications and a record 316 deals in the pipeline, KPMG said Hong Kong is on track to rank among the world’s top three IPO venues next year.