智通财经APP获悉，普华永道预测，2026年香港将有约150家企业在港成功上市，集资总额介于3200- 3500亿港元。该行预计集资超过50亿港元的企业数量将超过10家；其中，A 股企业透过香港资本市场进 行国际化集资的出海热潮持续。 普华永道续指，目前已有超过300家企业递表申请在港上市，其中不乏大型企业，且A股已占约100间。 预计今年会有约40间A股上市，集资约1400亿港元；18A生物科技企业有约20间，集资约300亿港元； 18C创新企业会有约10间，集资亦约300亿港元。因此可见今年A股占比仍高，但相对上18A及18C会比 例开始提升。 普华永道资本市场服务主管合伙人黄金钱表示，2025年香港资本市场强势回升，展望2026年，香港新股 市场理想表现有望持续，并展现多元化的发展趋势。这种多样性将使不同领域的公司能够获得创新和技 术相关的资金支持，并推动市场向更深人的层次发展。在高端制造和科技公司上市的推动下，香港 IPO 市场仍将保持活力，2026年香港 IPO 集资额有望达到3500亿港元。 黄金钱提到，2026年的利好因素包括减息，以及中国经济保持中高速增长，因此估计企业上市需求仍然 强劲，如受 ...

（原标题：瑞银：香港IPO集资额明年有望超3000亿港元 外资继续回流） 毕马威近期发布的报告称，预计2025年港股IPO集资额达2721亿港元，同比上升210%，自2019年后再度 登上全球第一。 李镇国表示，IPO数量的增加为市场提供了更丰富的投资选择，这种"百花齐放"的局面有助于提升市场 活跃度，吸引更多资金与关注，进而对二级市场形成支撑。 在具体的IPO市场展望上，李镇国透露，不排除2026年港股出现集资规模超过400亿港元的超大型IPO， 并预计仅2026年第一季度就将有数宗集资额过百亿港元的上市项目，主要集中在特专科技及消费类行业 等。 值得注意的是，他观察到今年已有小部分美资基金开始认购香港IPO，并预计2026年这一趋势将会增 强。 针对近期香港证监会与港交所向IPO保荐人发出的联席致函，李镇国解读称，此举更多是监管机构的一 种提醒，而非市场所言的"警告"。 （瑞银发布会现场 摄/张伟泽） 南方财经 21世纪经济报道记者 张伟泽 香港报道 12月11日，瑞银全球投资银行部副主席及亚洲企业客户部联席主管李镇国在记者会上表示，预计香港在 2026年将迎来150至200宗新股上市，集资总额超过300 ...

来源：瑞恩资本RyanbenCapital 刘大昌又指，凭毕马威对市场的「感觉」推断，目前涉及秘密申请的或有100宗，即港交所目前正在处 理的上市申请约400宗的上市申请，其中92宗为「A+H」上市申请。行业方面，新经济、新能源、新物 料以及健康医疗等行业料将成为明年IPO重要动力。 未见香港IPO市场有系统性风险 除了整体新股市况外，市场同样关注企业挂牌后的股价表现。 刘大昌称新股表现视乎市场气氛，相信大市气氛降温对新股的影响属「季节表现」，中长线不会削弱香 港IPO市场吸引力。 香港今年新股IPO市场强势反弹，目前有逾300间企业排队上市，不过日前两大监管机构香港证监会及 香港交易所于上周五(12月5日)联合发函给所有负责IPO的保荐机构，关注申请文件质量。 四大会计师事务所之一的毕马威中国香港资本市场组主管合伙人刘大昌表示，香港IPO市场在经历两三 年低迷期后，今年「突然大幅回升」，保荐机构在人手调配上确有挑战。监管机构的表态，不会影响企 业上市意愿，料明年香港新上市宗数可达180至200宗，IPO募资有望达到3,500亿港元。 刘大昌指出，虽然新股项目众多，但香港上市制度成熟完善、一向对上市的要求严谨 ...

Core Insights - The Hong Kong IPO market is increasingly attracting international investors, with a notable participation from various institutional investors this year [1] Group 1 - The 2025 Hong Kong Stock Exchange China Opportunities Forum was held on October 22 in Shanghai [1] - The CEO of Hong Kong Exchanges and Clearing, Charles Li, highlighted the growing activity of international investors in the Hong Kong IPO market [1] - Long-term funds and sovereign wealth funds are particularly gaining attention among international investors [1]

Group 1 - The core viewpoint of the article highlights the increasing activity of international investors in the Hong Kong IPO market, with a particular focus on long-term funds and sovereign wealth funds [1] - The recent IPO projects in Hong Kong have attracted major institutional shareholders from globally recognized investment institutions, indicating a strong confidence in China's technological innovation [1] - The Hong Kong Stock Exchange has reported impressive results for the first half of the year, with new stock financing amounting to HKD 109.4 billion, reclaiming the top position among global exchanges [1] Group 2 - The average daily trading volume in the securities market reached HKD 240.2 billion, representing a year-on-year increase of 118% [1] - The trading volumes in the spot market, derivatives market, and the Shanghai-Hong Kong Stock Connect all achieved record highs for the half-year period [1] - Over 300 companies are currently queued for listing, reflecting the strength of the Chinese economy and the resilience of Hong Kong's market [1]

Core Insights - The Hong Kong IPO market is performing exceptionally well this year, with over 200 companies currently queued to list in Hong Kong [1] - The Hong Kong Monetary Authority will host an International Financial Leaders Investment Summit next month, with around 100 CEOs or chairpersons expected to attend [1] - In the third quarter, Hong Kong's stock financing, including IPOs, placements, and large transactions, reached its highest level in four years, with the financing amount exceeding the total for the previous year within just three months [1] - Hong Kong serves as an excellent platform for mainland companies to raise funds and recruit talent, aiding their expansion into overseas markets [1]

Group 1 - The Hong Kong IPO market is expected to experience a fundraising boom not seen in four years, with predictions of 90 to 100 new listings in 2025, potentially raising over HKD 200 billion [1][3] - In the first half of 2025, the Hong Kong IPO market showed strong performance with 44 companies successfully listed, raising a total of HKD 107.1 billion, a sevenfold increase compared to the same period last year [1][3] - The optimistic forecast is supported by regulatory reforms that have improved the listing process, increased transparency, and enhanced efficiency, providing more opportunities for companies to go public [3] Group 2 - The recent strong performance of new stocks has significantly boosted investor confidence, leading to improved liquidity and a rebound in valuation levels, attracting more companies to raise funds through the Hong Kong capital market [3] - The Hong Kong IPO market is becoming an important platform for Chinese companies to expand their business and raise capital, with expectations of a very active fundraising season this year [3] - Over 200 companies have already submitted applications to list in Hong Kong, indicating a diverse influx of new listings across various industries, which injects new vitality into the market [4]

Group 1 - The core viewpoint is that the Hong Kong IPO market is expected to recover strongly by 2025, potentially re-establishing its leading position in the global IPO market [1] - PwC forecasts that 90 to 100 companies will conduct IPOs in Hong Kong this year, with total fundraising expected to be between 200 billion and 220 billion HKD, indicating a significant market rebound [1] - In the first half of this year, the Hong Kong IPO market experienced explosive growth, with total fundraising reaching 107.1 billion HKD, a 701% increase compared to the same period last year, and 44 new listings completed [1][3] Group 2 - The current market atmosphere is driven by multiple factors, including companies restarting financing plans after a prolonged period of market observation and others shifting their IPO plans from overseas financial centers to Hong Kong due to changes in the global financial environment [3] - PwC noted that the overall IPO fundraising scale in the US remains slightly higher at 127.2 billion HKD this year, but Hong Kong is showing strong momentum, with 2 to 3 large IPOs expected to exceed 10 billion HKD [5] - The ongoing IPO boom is attracting the attention of many large enterprises, with some considering business spin-offs in Hong Kong to enhance valuation and optimize capital structure [7] Group 3 - There is a traditional peak period for IPOs in Hong Kong in the second half of the year, with over 200 listing applications already submitted, reflecting sustained market enthusiasm [1][3] - Notable companies originally planning to list in Europe are reassessing their options, leading to increased opportunities for Hong Kong [7] - Overall, the Hong Kong IPO market is regaining confidence and international appeal, with potential large IPO projects in the second half of the year expected to bring new momentum to the financial market [7]

Group 1 - The core viewpoint is that Hong Kong's IPO market is expected to experience its most active fundraising wave in nearly four years, with projections of 90 to 100 companies going public in 2025, raising over 200 billion HKD [1][2] - In the first half of 2025, Hong Kong saw 44 new listings, raising 1,071 billion HKD, a sevenfold increase compared to the same period last year, making it the highest in nearly a decade and surpassing the total raised in 2024 [1] - The number of companies that have submitted applications to list in Hong Kong exceeds 200, indicating a diverse range of industries participating in the IPO market [1] Group 2 - Regulatory bodies have made multiple revisions to listing regulations, enhancing the approval process and increasing transparency and efficiency, which attracts more companies to list in Hong Kong [2] - Recent strong performance of new stocks has boosted investor confidence, alongside improved liquidity and rising valuation levels, contributing to the long-term stable development of Hong Kong's capital market [2] - The forecast for IPO fundraising in 2025 is between 200 billion HKD and 220 billion HKD, with expectations for continued activity in the IPO market driven by several large new listings [2]

Core Insights - The Hong Kong IPO market raised HKD 107.1 billion in the first half of 2025, a sevenfold increase compared to the same period last year, making it the highest globally and the second highest in nearly a decade [1] - A total of 44 new stocks were listed in Hong Kong during the first half of 2025, marking a 47% increase from the first half of 2024, with the main board dominated by retail, consumer goods, and services [1] - The outlook for the second half of 2025 remains positive, with over 200 companies having submitted applications to list in Hong Kong, spanning various industries including traditional sectors and new economy sectors [1][2] Market Trends - The Hong Kong IPO market is experiencing a significant growth trend, supported by high liquidity in the banking system, which provides favorable conditions for companies to list and raise funds [2] - The market is becoming an important platform for Chinese companies to expand their business and raise capital, with many large enterprises listed on A-shares planning to split their Chinese operations to list in Hong Kong [2] - The anticipated influx of policy support and ample liquidity is expected to lead to the most active fundraising wave in nearly four years for the Hong Kong new stock market [2]