Initial Public Offerings (IPO) in Hong Kong have been smashing it in 2025, with a total of over HK$76 billion (US$9.7 billion) raised so far. The city’s finance chief, Paul Chan Mo-po, spilled the beans on this exciting news, highlighting the recent massive listing by a mainland Chinese battery manufacturer. Despite some negative feedback from ratings agencies, Chan emphasized the importance of strengthening ties with the mainland for Hong Kong’s long-term growth. He also showed faith in the city’s markets to handle any external shocks that come their way.
The IPO market in Hong Kong has been described by Chan as “bustling,” especially after hosting the world’s largest offering of the year. The battery giant, Contemporary Amperex Technology (CATL), known for supplying big names like Tesla and Volkswagen, made a splash with its listing, raising a whopping HK$41 billion and pushing Hong Kong to the top spot in global fundraising once again. Another significant player in the game, Jiangsu Hengrui Pharmaceuticals, a major drug manufacturer from the mainland, also made waves by raising HK$9.89 billion in its trading debut, with shares skyrocketing by 25 percent.
Surpassing last year’s figures by more than seven times, the funds raised from new share offerings in Hong Kong have reached nearly 90 percent of the total amount raised in 2024, according to Chan. This remarkable growth signals a promising trajectory for the city’s financial markets. With the ever-evolving geopolitical and economic landscape, Chan assured that the government would remain vigilant in safeguarding the security of Hong Kong’s financial sector. Amid uncertainties, Hong Kong seems to be holding its ground and making significant strides in the global IPO arena, attracting major players and investors alike.
