FINANCE

Hong Kong Fundraising Hits Five-Year High on Tech Surge

Published: Apr. 2, 2026 6:42 p.m. GMT+8

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Hong Kong Stock Exchange. Photo: VCG

Fundraising in Hong Kong from initial public offerings and secondary listings climbed to a five-year high of $13.3 billion in the first quarter of 2026, fueled largely by high-tech companies.

The strong performance cements the city’s position as the world’s leading listing venue, underscoring a sustained recovery in its capital markets despite regulatory concerns over a growing backlog of unapproved applications.

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Hong Kong IPOs/secondary listings raised $13.3B in Q1 2026 (5-year high), outpacing Nasdaq ($5.7B) and NYSE ($5B).
23 IPOs ($4.7B), 15 secondary listings ($8.5B, 19x YoY); high-tech sector $7.6B (36% ECM); backlog >400 applications.
M&A reached $36.9B (10-year high), energy/power led ($21.7B); CK Group sold U.K. Power Networks ($21.3B EV).

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Who’s Who

CK Group: CK Group, controlled by Li Ka-shing's family, announced in February the sale of U.K. Power Networks to France’s Engie SA for an enterprise value of $21.3 billion (base consideration 10.5 billion pounds), marking Hong Kong's largest energy acquisition since 1980.

U.K. Power Networks: CK Group, controlled by Li Ka-shing's family, announced in February the sale of U.K. Power Networks to France’s Engie SA. The deal has an enterprise value of $21.3 billion and base consideration of 10.5 billion pounds, marking Hong Kong's largest energy acquisition since 1980.

Engie SA: France’s Engie SA acquired U.K. Power Networks from Hong Kong’s CK Group in February, in a deal with an enterprise value of $21.3 billion and base consideration of 10.5 billion pounds—the largest energy acquisition involving Hong Kong since 1980.

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