Hong Kong IPO proceeds pass HK$388 billion in first nine months
Hong Kong raised more than HK$388 billion through initial public offerings during the first nine months of 2026, more than double the year-earlier figure and exceeding the total raised in all of 2025, Financial Secretary Paul Chan said. The Hong Kong Investment Corporation also expects more than 30 portfolio companies to seek listings this year.
Funds raised through initial public offerings in Hong Kong exceeded HK$388 billion (US$49.4 billion) in the first nine months of 2026, more than twice the amount recorded a year earlier, Financial Secretary Paul Chan Mo-po said in his weekly blog. The figure has already surpassed the total raised during the whole of last year, according to Chan. Average daily turnover on Hong Kong’s stock market reached HK$272.9 billion between January and September, a 6.4 per cent year-on-year increase.
Chan said sentiment had recently been affected by rising yields on long-term US bonds, which he said had reached a 24-year high and had increased investor concerns about the global economic outlook. He added that short-term volatility would not alter broader patterns in global asset allocation and supply-chain restructuring. He also pointed to growing interest from the Middle East.
Capital from the region entering Hong Kong’s new listings had increased significantly, he said, with investors showing interest in property, technology, logistics and capital markets. Middle Eastern businesses were also exploring warehousing and logistics investments, Chan said. Separately, Clara Chan Ka-chai, chief executive of the government-owned Hong Kong Investment Corporation, said more than 30 of the organisation’s portfolio companies were preparing to apply for Hong Kong listings this year.
Eleven of its more than 200 portfolio companies have already listed locally. HKIC was established in 2022 to manage HK$62 billion in government funds. It reported HK$6.46 billion in investment income in 2025, up 175 per cent year on year, equivalent to a net internal rate of return of 14 per cent.
Chan said the figure included realised and unrealised equity and credit investments. The corporation is also preparing to launch a venture-capital fund denominated in offshore yuan. Chan said HKIC’s investments could attract private-sector funding, with every Hong Kong dollar committed by the corporation leveraging HK$8 from private investors.
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