The Hong Kong Stock Exchange is processing 106 applications for initial public offerings, indicating a resurgence in the city's IPO market, The Standard reported, citing Hong Kong Exchanges and Clearing (HKG:0388) Chief Executive Officer Bonnie Chan Yi-ting.
Since the beginning of 2024, 40 companies have gone public in Hong Kong, the third largest number in the world so far, the report said.
Some of the listings in Hong Kong are technology firms from mainland China, The Standard said.
To allow firms to seek financing early in the process, the bourse rolled out Chapter 18C, which allows niche technology companies that have difficulty passing the profitability test to also apply for listing in Hong Kong, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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