Forms Syntron draws Hong Kong’s next-gen tycoons in HK$940 million IPO
Hong Kong’s younger generation of tycoons is becoming increasingly active in the city’s initial public offering market through family offices and private investments. But their investments extend beyond the property and traditional financial sectors associated with their predecessors, into technology and digital finance. Prominent business leaders Cheng Chi-heng of New World Development and Peter…
Hong Kong's next generation of wealthy entrepreneurs, including Cheng Chi-heng and Peter Lee, are actively participating in the city's initial public offering (IPO) market. Cheng, of New World Development, and Lee, of Henderson Land, both served as cornerstone investors in Shenzhen Forms Syntron Information's HK$940 million (US$119.8 million) IPO. In addition to traditional property and financial sectors, these tech-savvy tycoons are now investing in technology and digital finance companies.
Cheng and Lee, along with private investment firm Thalassa Capital and Hong Kong-listed LCD manufacturer Yeebo International Holdings, purchased shares at HK$40 million and HK$39.6 million, respectively. The IPO, which provides financial technology services to banks and financial institutions, is expected to generate significant capital for the company's continued growth.
Founded in 2003 and headquartered in mainland China, Forms Syntron has strong ties to Hong Kong, with its founder and chairman Chow Chi Kwan hailing from the city. The company's financial services cater to the banking industry and have led to 80% of its revenue coming from the Hong Kong market. As the broader IPO market experiences a recovery in 2026, prominent investors are showing renewed interest in the city's IPO market.
Written by urgent.news from SCMP Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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