毕马威:监管关注IPO质量并不影响企业赴香港上市的意愿
Xin Lang Cai Jing·2025-12-11 06:59

Group 1 - The Hong Kong IPO market has rebounded strongly this year, with over 300 companies queued for listing, and an expected 180 to 200 new listings next year, raising an estimated HKD 350 billion [2][3] - KPMG's partner Liu Dachang noted that despite the surge in IPO applications, the quality of application documents is under scrutiny by regulatory bodies, which will not deter companies from listing [2][3] - KPMG forecasts that 100 new stocks will raise a total of HKD 272.1 billion this year, reclaiming the top position in global fundraising [2] Group 2 - Liu Dachang estimates that there will be several projects raising between HKD 5 billion to 10 billion next year, but currently, there are no large IPOs like CATL seen this year [3] - The performance of the IPO market will depend on the activities of major exchanges like NYSE and NASDAQ, particularly if large tech companies list there [3] - The sectors expected to drive IPO activity next year include new economy, new energy, new materials, and healthcare [3] Group 3 - There are no systemic risks observed in the Hong Kong IPO market, despite concerns about post-listing stock performance [4][5] - Market sentiment is believed to influence new stock performance, but it is considered a seasonal effect that will not diminish the long-term attractiveness of the Hong Kong IPO market [5] - The quality of listing projects should not be judged solely by stock price performance, as various factors including market conditions and geopolitical issues also play a role [5]