Key Takeaways:
- 85 companies raised HKD210.2 billion in HK listings during 1H26.
- A+H share issuers accounted for 58 percent of total fundraising.
- BDO expects the IPO momentum to continue through 2027.
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BDO sees HK IPO boom extending through 2027 with HKD210B raised
Hong Kong's IPO market raised HKD210.2 billion from 85 listings in 1H26, with BDO forecasting the boom to extend through 2027.
"The momentum became particularly noticeable in 2H25, propelled by A+H shares as well as Chapter 18A and 18C companies," Andrew Lam, Managing Director at BDO, said.
A+H share issuers raised HKD121.9 billion from 24 listings, accounting for 58 percent of total proceeds. Another 24 companies listing under Chapter 18A and 18C raised HKD42.5 billion, or 20 percent of the total.
Lam said top-tier A-share companies that submitted applications last year are expected to complete approvals and begin trading soon. Multiple leading A-share firms, along with AI and high-tech enterprises, have filed or announced listing plans, with abundant market liquidity supporting continued activity.
The pipeline includes companies from increasingly diverse backgrounds. In recent years, many A+H companies have sought listings in Hong Kong, while overseas firms have also pursued cross-border listings, broadening the market's issuer base. Lam said he expects the pace of listings to remain steady.
The sustained IPO activity signals strong institutional demand for Hong Kong-listed equities. Investors will watch the approval timelines for the next wave of A-share applicants and AI enterprises, which could determine whether 2H26 fundraising volumes exceed the HKD210.2 billion recorded in the first half.
This article is for informational purposes only and does not constitute investment advice.
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