AI deal boom drives Hong Kong fundraising to record summer - Bloomberg

Hong Kong's share sales reached a record $47.5 billion in the third quarter, driven by Chinese technology companies seeking capital for AI expansion, according to Bloomberg. This fundraising surge brought the city's total for 2026 above the $92 billion mark, bringing it closer to the 2021 annual record of $112.5 billion. Alibaba Group's $10.2 billion follow-on offering was the largest single transaction of the quarter, while Zhongji Innolight's $8 billion listing marked the city's biggest IPO in nearly seven years.

The activity reflects the growing capital needs of Chinese firms competing in AI and related technologies, with some companies returning to equity markets just months after previous fundraising rounds. The boom extended to Asia-Pacific, where third-quarter share sales topped $120 billion, the highest in six years, and India raised a record $26 billion in the same period.

However, investor appetite is becoming more selective as markets weaken, with the MSCI Asia-Pacific Index falling as much as 7% in July. Despite this, the deal pipeline remains substantial, with more listings planned across the region.

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