Hong Kong’s initial public offering (IPO) market is heading for its busiest month in four years, as a late rush of listings gathers pace despite the traditional slowdown around the Christmas and New Year holidays.
At least 15 companies were set to go public by the end of December, with drug-discovery firm Insilico Medicine planning one of the largest deals in the final stretch of the year, according to data compiled by the Post. A total of 12 companies had already made their market debuts between December 1 and December 18, data from Futu Securities showed. Altogether, it marked December as one of the busiest months for IPOs since 2021.
Among those lining up ahead of the Christmas break are autonomous-driving firm CiDi, artificial intelligence solutions provider Nuobikan Artificial Intelligence Technology (Chengdu), and biopharmaceutical firm B&K Corporation, underscoring sustained investor appetite for listings related to technology and healthcare despite thinner trading volumes typically seen during the holiday period.
Six companies are scheduled to debut on December 30, including Insilico, which said in a prospectus filed with the Hong Kong stock exchange on Thursday that it could raise up to HK$2.3 billion (US$326.6 million). The company focuses on using AI to accelerate drug discovery and has attracted strong interest from global investors in recent funding rounds. The six companies are expected to raise up to HK$7.4 billion together.
Among those lining up a listing ahead of the Christmas break is autonomous-driving firm CiDi. Photo: Handout
The companies lining up for listings by the end of this month could raise about HK$14.5 billion, adding to a rebound in Hong Kong’s IPO market after several subdued years marked by weak valuations and cautious sentiment.
A total of 114 companies had either listed or announced plans to go public this year as of December 15, raising nearly HK$286.3 billion, according to data compiled by accounting firm Deloitte.
