UBS(US:UBS) 2 1 Shi Ji Jing Ji Bao Dao·2025-12-11 12:07Core Viewpoint - UBS predicts that Hong Kong will see over 150 to 200 new IPOs in 2026, raising a total of over 300 billion HKD, maintaining its position as the global leader in IPO fundraising [1] Group 1: IPO Market Outlook - The expected increase in IPOs will provide a richer selection of investment opportunities, enhancing market activity and attracting more capital and attention [1] - UBS anticipates that there may be super-sized IPOs exceeding 40 billion HKD in 2026, with several projects over 10 billion HKD expected in the first quarter, primarily in specialized technology and consumer sectors [2] - Over 300 companies have already submitted listing applications, and regulatory bodies are emphasizing the importance of maintaining overall listing quality amid the anticipated surge in IPO projects [2] Group 2: Market Drivers - Continuous foreign investment in the Chinese stock market is bringing new capital to Hong Kong, supported by the Federal Reserve's interest rate cuts [1] - The ongoing recovery of the mainland economy is also contributing to the rebound of the stock market [1] - Current valuations of Hong Kong tech stocks remain significantly discounted compared to US counterparts, presenting clear attractiveness [1]