{
  "id": 19587138,
  "title": "Losing steam? Hong Kong hit by run of lacklustre IPOs amid tepid investor demand",
  "url": "https://urgent.news/2026/11/12/losing-steam-hong-kong-hit-by-run-of-lacklustre-ipos-amid-tepid",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-12T02:01:16.000Z",
  "source": {
    "name": "SCMP Business",
    "slug": "scmp-business",
    "url": "https://www.scmp.com/business/markets/article/3374132/losing-steam-hong-kong-hit-run-lacklustre-ipos-amid-tepid-investor-demand"
  },
  "original_language": "en",
  "account": "Hong Kong's initial public offering (IPO) market has faced a challenging period, with all six companies that debuted this week priced at or near the bottom of their marketed ranges due to a lack of investor interest. Chinese memory product maker Hosin Electronics and Xiaomi-backed chipmaker Zhuhai Amicro Technology were among the firms to go public this week, following a sluggish August-to-October stretch. Both companies adjusted their valuations to avoid a poor debut. Although Amicro and Hosin experienced strong retail oversubscription, institutional demand remained subdued, with their international offerings only seeing minimal oversubscription. The one-time oversubscription for Amicro was 0.05 times, while Hosin's was 0.45 times. Despite pricing their shares lower to attract buyers and ensure a smooth debut, both companies faced early selling pressure. Amicro's share price opened 37% higher after raising HK$700 million, while Hosin opened flat, raising HK$1.07 billion. Other companies that went public this week, including Suzhou Denglin Technology, Jiangsu Xinde Semiconductor Technology, RelyEZ Energy Storage Technology, and Sichuan Neautus Traditional Chinese Medicine, followed suit by pricing their shares near the lower end of their ranges. Denglin, the week's largest IPO, saw its international offering oversubscribed by 0.34 times, falling 10% in the first two trading days. Neautus' retail tranche was oversubscribed by nearly 2,190 times, but its international offering was only 0.25 times oversubscribed, rising 27.6% on its debut. Kenny How Sze-ming, a member of the Hong Kong Securities and Futures Professionals Association, noted that investors are currently more cautious and selective, leading to deals settling at lower valuations.",
  "summary": "Hong Kong’s initial public offering (IPO) market has endured a tough few days, with all six listings launched this week priced at or near the bottom of their marketed ranges amid tepid institutional interest. Chinese memory product maker Hosin Electronics and Xiaomi-backed chipmaker Zhuhai Amicro Technology became the latest firms to debut on the city’s stock market on Thursday, joining Hong…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Alphabet eyes $3 billion Hong Kong, Singapore bond sale, sources say",
        "url": "https://urgent.news/2026/11/11/alphabet-eyes-3-billion-hong-kong-singapore-bond-sale-sources-say",
        "published": "2026-11-11T08:54:23.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}