FINANCE

Hong Kong Targets Global No. 2 Spot With $41 Billion IPO Boom

Published: Jun. 25, 2026 2:41 a.m. GMT+8

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Hong Kong’s IPO market delivered a strong first half of the year with 84 listings raising HK$209.8 billion, according to an EY report. Photo: VCG

Hong Kong’s initial public offering market is projected to raise HK$320 billion ($40.8 billion) in 2026, positioning the city as the world’s second-largest listing venue behind Nasdaq.

The robust forecast from Ernst & Young (EY) follows a strong first half where fundraising surged 92% year-on-year to HK$209.8 billion across 84 deals. More than 420 prospective candidates are currently waiting to list, driven by an influx of mainland Chinese technology firms seeking offshore capital.

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Hong Kong IPO market forecast to raise HK$320 billion ($40.8 billion) in 2026, becoming world’s second-largest listing venue after Nasdaq.
First half 2025 fundraising surged 92% year-on-year to HK$209.8 billion, driven by mainland Chinese tech firms seeking offshore capital.
Lock-up expiries of $274 billion looming, but sell-off pressure expected muted as most shares held by state-backed and long-term investors.

AI generated, for reference only

Ernst & Young: According to the article, Ernst & Young (EY) forecasts Hong Kong's IPO market will raise HK$320 billion in 2026, making it the world's second-largest listing venue. EY's capital markets spokesman Jacky Lai discussed the "IPO Connect" mechanism. The forecast follows a strong first half where fundraising surged 92% year-on-year.

Deloitte: According to the article, Deloitte forecasted in mid-June that Hong Kong's annual IPO proceeds would reach at least HK$300 billion. This prediction mirrored a bullish outlook from EY, reflecting the city’s strong market revival driven by mainland Chinese technology firms.

Goldman Sachs: According to the article, Goldman Sachs estimated in early July 2025 that roughly $274 billion worth of Hong Kong-listed shares could become available for trading over the next 12 months due to lock-up expiries.

Nasdaq: Based on the article, Nasdaq is currently the world's largest initial public offering (IPO) venue. Hong Kong is projected to become the second-largest listing venue behind Nasdaq by 2026, raising HK$320 billion.

Wen Wei Po: Wen Wei Po is a Hong Kong local newspaper. In the article, Hong Kong Financial Secretary Paul Chan told Wen Wei Po that Hong Kong is negotiating with mainland regulators to allow mainland retail investors to subscribe to local share sales, as part of efforts to boost the IPO market.

AI generated, for reference only