Hong Kong’s IPO haul more than doubles to HK$388b in first 9 months: Paul Chan

In the first nine months of 2026, the amount of funds raised through initial public offerings (IPOs) in Hong Kong more than doubled compared to the previous year, reaching over HK$388 billion (US$49.4 billion). Financial Secretary Paul Chan Mo-po revealed these figures in his weekly blog. Additionally, Clara Chan Ka-chai, CEO of the government-owned Hong Kong Investment Corporation (HKIC), stated that more than 30 of its portfolio firms were planning to apply for Hong Kong listings this year.

The average daily turnover on Hong Kong's stock market from January to September was HK$272.9 billion, marking a 6.4 per cent year-on-year growth. Despite rising US bond yields reaching a 24-year high, causing concerns over global economic prospects, Paul Chan emphasized that short-term market volatility would not hinder the overall trend of global asset allocation and supply chain restructuring.

Middle Eastern investors showed significant interest in Hong Kong's new listings, with capital extending to various sectors such as property, technology, logistics, and capital markets. HKIC's Clara Chan highlighted that 11 out of its 200-plus portfolio companies had listed in Hong Kong, with more than 30 expected to apply for IPOs this year.

Established in 2022 with HK$62 billion in government funds, HKIC aims to generate reasonable investment returns while fostering the growth of strategically important companies. The company's annual report revealed plans to launch an offshore yuan-denominated venture capital fund, further solidifying Hong Kong's position as a global hub for the Chinese currency.

Clara Chan expressed confidence in the project, emphasizing the importance of technological breakthroughs and long-term socioeconomic benefits. The Hong Kong government's tourism sector also experienced robust growth during China's National Day "golden week," welcoming over 732,000 mainland visitors, marking an 8.4 per cent increase year on year.