2 1 Shi Ji Jing Ji Bao Dao·2025-09-23 12:19Group 1 - The Hong Kong IPO market has seen unprecedented subscription enthusiasm this year, with record oversubscription rates, including a leading 7558 times for a major IPO [1] - Deloitte's report indicates that Hong Kong is expected to maintain its position as the top global fundraising venue, with 66 new listings and a total fundraising amount of HKD 182.3 billion in the first three quarters of this year, representing a 228% increase from HKD 55.6 billion in the same period last year [1][4] - The report forecasts that over 80 new listings will occur in Hong Kong in 2025, with total fundraising expected to be between HKD 250 billion and HKD 280 billion [1] Group 2 - Six large IPOs are anticipated in the first three quarters of this year, including five A+H shares and one spin-off project, alongside four other large IPOs [4] - The China Securities Regulatory Commission has introduced measures to support leading domestic companies in listing in Hong Kong, which, along with simplified approval processes, is expected to drive strong momentum in the Hong Kong IPO market [4][5] - The average first-day return for new IPOs in Hong Kong this year is 33%, significantly higher than 9% in the same period last year, indicating improved market sentiment [7] Group 3 - The top five new IPOs in Hong Kong this year have all raised over HKD 10 billion, contrasting with only one such instance in the same period last year, leading to a 135% increase in total fundraising to HKD 98.7 billion [8] - The manufacturing sector has the highest fundraising share at 37%, followed by the consumer sector at 20% and the energy and resources sector at 16% [10] - The diverse industry distribution of the current IPO market reflects a mature and balanced market ecosystem, enhancing its attractiveness to foreign capital [11]