Hong Kong’s initial public offering (IPO) market is expected to raise up to HK$350 billion (US$45 billion) next year, extending the momentum built this year on the back of mainland Chinese public firms and the technology sector.
KPMG forecast on Wednesday that between 180 and 200 applications would drive the fundraising, representing a 28.7 per cent jump in total value and as much as a 100 per cent leap in deal numbers compared with this year.
“We also expect 2026 to be a pivotal year for hi-tech listings, further solidifying Hong Kong’s position as a global capital markets leader,” said Louis Lau Tai-cheong, partner and head of Hong Kong capital markets group at KPMG in China.
The auditing and consulting firm estimated that 100 newcomers to Hong Kong’s stock exchange this year garnered HK$272 billion – the highest since 2022 – cementing the city’s place at the top of global markets.
Much of the 2025 performance was driven by Beijing’s encouragement for mainland-traded companies to pursue offshore listings. The so-called A+H listings raised HK$136.5 billion across 17 deals, according to KPMG data.
