Three Companies Seeking to Raise Up to $1B, Joining Hong Kong Listing Wave

Dow Jones05-28

By Megan Cheah

Three more companies are joining Hong Kong's listing frenzy, aiming to collectively raise up to around US$1 billion.

The largest of the three offerings is likely to be by Dajin Heavy Industry, which aims to raise up to 5.77 billion Hong Kong dollars, equivalent to US$736.4 million, through the sale of nearly 87.0 million shares at a maximum price of HK$66.40 each.

The Beijing based offshore wind power equipment maker, which is already listed in Shenzhen, is aiming to use the offering's net proceeds to fund the enhancement of its integrated deep-sea solution and to invest and construct its assembly base in Europe, among other uses.

The company is the largest offshore wind foundation provider in Europe, based on sales data in the first half of 2025, according to Frost & Sullivan market research.

LongBio Pharma (Suzhou) is seeking to raise HK$1.36 billion via its initial public offering, selling 14.2 million shares at HK$96.06 apiece.

The Chinese pharmaceutical company, which develops products targeting allergic and autoimmune diseases, plans to use the net proceeds to enhance its core products' research and development, such as through clinical trials. It also aims to further develop its preclinical product pipeline.

Meanwhile, Hong Kong-based Lung Fung Group seeks to raise up to HK$797.5 million via the sale of 125.0 million shares. Its guided price range is HK$5.18 to HK$6.38.

The health and beauty chain retail operator aims to partly use net proceeds from the offering to expand its physical and online sales network, for brand marketing and strengthening its supply-chain capabilities.

The offerings are expected to close June 2, with all three companies set to start trading June 5.

The deals signal yet another bumper year for one of the world's busiest exchanges. Funds raised through Hong Kong IPOs in the first four months of 2026 was HK$151.4 billion, surging from HK$21.5 billion in the same period a year earlier, data from Hong Kong Exchanges & Clearing showed.

Write to Megan Cheah at megan.cheah@wsj.com

(END) Dow Jones Newswires

May 27, 2026 21:39 ET (01:39 GMT)

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Three Companies Seeking to Raise Up to $1B, Joining Hong Kong Listing Wave

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