PwC expects Hong Kong's initial public offering market to extend its recovery into 2026, with fundraising projected at HK$320 billion to HK$350 billion, supported by easing interest rates, policy backing, and sustained demand from new-economy companies.
Hong Kong reclaimed the world's top spot for listing fundraising in 2025, raising HK$285.8 billion from 119 listings, up 68% from 2024, PwC said in a Monday report.
Large deals continued to anchor the market, with 55 companies raising at least HK$1 billion during the year, signalling strong investor appetite for sizeable offerings.
Looking ahead, more than 300 companies have already filed listing applications, and PwC estimates around 150 listings could come to market in 2026, including more than 10 deals raising over HK$5 billion.
New-economy listings, including Chapter 18C specialist technology firms and Chapter 18A biotech companies, are expected to remain a key driver, while retail and consumer-related names could benefit from China's push to boost domestic demand.
Comments