Core Viewpoint - The Hong Kong IPO market has experienced unprecedented subscription enthusiasm in 2023, with record oversubscription rates and significant increases in both the number of new listings and total fundraising amounts [1][3]. Group 1: Market Performance - In the first three quarters of 2023, Hong Kong is expected to see 66 new listings, raising a total of HKD 182.3 billion, a 47% increase in the number of new listings and a 228% increase in fundraising compared to the same period last year [1]. - The average first-day return for new IPOs in Hong Kong was 33% in the first half of 2023, significantly higher than the 9% recorded in the same period last year [7]. - 98% of new stocks received oversubscription, with 87% of them being oversubscribed by more than 20 times [7]. Group 2: Sector Analysis - The medical and pharmaceutical sectors had the highest number of new listings, while the manufacturing sector led in fundraising, primarily driven by the large-scale IPO of CATL [8]. - The top five new IPOs in 2023 all raised over HKD 10 billion, with total fundraising for these projects increasing by 135% year-on-year to HKD 98.7 billion [8]. Group 3: Regulatory and Policy Support - The China Securities Regulatory Commission announced measures to support leading domestic companies in listing in Hong Kong, which is expected to enhance the IPO market [3]. - The Hong Kong Stock Exchange has received 283 listing applications in the first eight months of 2025, a 123% year-on-year increase [3]. Group 4: Future Outlook - Deloitte forecasts that Hong Kong will continue to see strong momentum in the IPO market, with over 80 new listings expected in 2025, raising between HKD 250 billion and HKD 280 billion [1]. - The influx of overseas funds into Hong Kong is anticipated to support large-scale IPOs in the fourth quarter of 2023, creating a favorable valuation environment [1][3].
前三季度港股IPO集资额升228% 1823亿港元居全球集资首位
2 1 Shi Ji Jing Ji Bao Dao·2025-09-23 23:16