港资券商掀赴美上市热潮，6家又启动，赴美上市在于三重考量

Core Viewpoint - Hong Kong-based financial firms, particularly securities companies, are increasingly targeting the U.S. capital market for overseas listings, with a notable surge in IPO activities on NASDAQ in 2023 [1][5]. Group 1: Successful Listings - A total of 32 Hong Kong enterprises have successfully listed in the U.S. this year, including 4 securities firms that have gone public on NASDAQ, raising a total of $40.775 million [1][4]. - The four successful Hong Kong securities firms listed on NASDAQ are Bluemount Holdings Limited, Grande Group Limited, Waton Financial Limited, and Plutus Financial Group Limited, with listing dates ranging from February to July 2025 [2][3]. Group 2: Characteristics of Listed Firms - The listed securities firms exhibit two main characteristics: small to medium fundraising sizes, typically between $5 million and $10 million, and diversified business structures [4]. - Specific allocations of raised funds include 30% for AI systems by Waton Financial, 25% for enhancing IPO teams by Grande Group, and 20% for acquiring U.S. and Southeast Asian brokerage licenses by Plutus Financial [4]. Group 3: Upcoming Listings - At least 27 additional Hong Kong enterprises are preparing for U.S. listings, with six securities firms, including Beta Financial Technology and Hobo Capital, having disclosed their plans [5][6]. - The upcoming listings include various strategies, such as Beta Financial's plan to raise up to $10 million and Mango Financial's intention to merge with a SPAC for its listing [6][7]. Group 4: Motivations for U.S. Listings - Hong Kong financial institutions are attracted to the U.S. market for several reasons: diversified financing channels, enhanced global brand recognition, and the potential to replicate the success of peers like Futu Holdings [8]. - The current trend of Hong Kong securities firms listing in the U.S. is also influenced by the favorable market conditions in Hong Kong, allowing firms to capitalize on the bullish sentiment [8].