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IPO

IPO
Latest news and analysis on initial public offerings (IPOs), with a particular focus on companies raising funds on the Hong Kong Stock Exchange.
Late last year, Guotai Junan Securities and Haitong Securities announced a 103 billion yuan merger to create China’s biggest brokerage. Photo: Shutterstock
Banking & finance

China’s brokerage sector sees mega-mergers but remains competitive, fragmented

China’s intensely competitive securities sector, with more than 140 firms, has been repeatedly pulled up by regulators, S&P Global says.

Banking & finance

Apple supplier Lens Technology joins Chinese firms planning Hong Kong IPOs

Wealth management

Hong Kong finance chief sees US$20 billion of IPOs this year on tech optimism

Banking & finance

Hong Kong stock exchange says ‘Sawasdee’ to Thai companies

Thailand’s stock market is the third largest in Southeast Asia and 25th globally, according to the World Bank.

Thailand is home to companies from many dynamic sectors, including energy, healthcare, and technology, HKEX says. Photo: Nora Tam
Hong Kong stock market

Chinese pork producer Muyuan mulls US$1 billion secondary Hong Kong listing

Shenzhen-listed Muyuan is looking to hire banks for a possible share sale sometime this year, according to sources.

Banking & finance

Exclusive | Beijing could explore adding Hong Kong IPOs to ‘connect’ scheme: HSBC APAC chair

‘An IPO connect can meet the demand for mainland investors to invest in global assets,’ Peter Wong says.

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Banking & finance

China fresh-tea brand Chagee follows Mixue, Guming in IPO rush

Company receives approval for Nasdaq or NYSE listing after Beijing’s pledge to help more mainland companies raise funds.

Chagee launched its first Hong Kong store at K11 Art Mall in Tsim Sha Tsui in 2024. Photo: InvestHK
Banking & finance

Hong Kong to benefit from AI, China opening, Asia wealth: think tank

The government think tank will undertake roadshows worldwide to highlight growth opportunities in the city, chairman Benjamin Hung says.

Banking & finance

BYD raises up to US$5 billion in stock sale to fund its EV research

The carmaker will use the proceeds from the share placement for research and development and overseas expansion.

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Hong Kong stock market

Mixue’s stock surges in milk tea vendor’s Hong Kong IPO debut

Shares of the Zhengzhou-based company rose by 43 per cent to HK$290 on Monday.

Mixue Group’s store in Hong Kong’s Mongkok district on February 25, 2025. Photo: Reuters
Hong Kong stock market

Chinese consumer stocks are in demand as Mixue rides Hong Kong IPO revival

Consumer stocks have gained 23 per cent this year, according to one Hang Seng yardstick, as DeepSeek helped with a broader market re-rating.

A large screen showing major Hang Seng indices inside the Hong Kong stock exchange building in Central. Photo: Nora Tam
Banking & finance

Mixue’s big IPO powered by prowess in procurement, production, prices: analysts

The company’s ‘comprehensive end-to-end supply chain’ helps it sell bubble tea, ice cream at ultralow prices.

Japan

Chinese carmaker Chery files Hong Kong IPO application

China’s second-largest carmaker lists China International Capital Corp, Huatai Securities and GF Securities as joint IPO sponsors.

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Retailing

FMG, Chinese fast-fashion brand Urban Revivo’s parent, eyes rapid expansion

Planned locations include Tokyo, London, Hong Kong and possibly Dubai, following New York launch.

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Urban Revivo generated more than 7 billion yuan in sales last year. Photo: Shutterstock
Banking & finance

Chinese IT firm Unisplendour targets US$1 billion Hong Kong listing

More mainland-listed companies are making their way to Hong Kong to raise funds amid improved market sentiment and regulatory support.

Human workers and robotic systems labour on a production line of Unisplendour in Xiaoshan District of Hangzhou, in east China’s Zhejiang Province, on April 27, 2023. Photo: Xinhua
HKEX

HKEX’s 2024 profit rises to a record as stock trading is hot again

Net profit in 2024 rose 10 per cent to HK$13 billion (US$1.7 billion), aided by higher fees from handling market transactions and new stock listings.

Hong Kong budget 2025-26

Budget 2025: Hong Kong to boost role in wealth, IPOs, digital assets, yuan

‘We are pressing ahead with high-quality development of Hong Kong’s international financial market,’ financial secretary says.

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Banking & finance

Mixue IPO sets record with nearly US$206 billion in retail subscriptions

Drinks chain is expected to begin trading on March 3 in Hong Kong.

A Mixue shop in Mong Kok. Photo: Handout
Stocks

China may ease IPO curbs as CSRC head signals policy loosening: Morgan Stanley

CSRC chairman Wu Qing emphasises role of capital markets in fundraising and how they can be leveraged to boost the economy.

Banking & finance

Exclusive | Chinese tech firms eye Hong Kong IPOs amid DeepSeek-triggered AI boom

Mid and large-cap Chinese firms in semiconductors, AI and robotics are exploring Hong Kong IPOs, UBS executive says.

Banking & finance

Mixue aims for US$444 million Hong Kong IPO as iced drinks take off

Fresh drink maker’s profit surged 45.2 per cent in the first nine months of 2024, as it served up around 7.1 billion drinks.

Customers wait at a Mixue store at a shopping mall in Beijing on September 19, 2024. Photo: Reuters
HKEX

Hong Kong stock market can help AI companies raise money: HKEX CEO Bonnie Chan

Hong Kong Exchanges and Clearing will host Capital Markets Forum in May.

Bonnie Chan Yiting, the CEO of Hong Kong Exchanges and Clearing. Photo: SCMP Pictures
Sany

China’s Sany Heavy Industry eyes US$1.5 billion Hong Kong IPO: sources

The Shanghai-listed heavy machinery manufacturer could raise funds in the second half of this year.

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Singapore

Shein faces investor pressure to slash valuation to US$30 billion: sources

Shein shareholders believe an adjustment is needed to help get its potential UK IPO over the line, say people familiar with the matter.

Hong Kong economy

Editorial | Friendlier regulations help Hong Kong rise in IPO league table

City back in the running to reclaim crown as listing capital of the world, with mainland Chinese firms such as battery maker CATL leading the charge.

A CATL sign seen outside the company’s research and development hub in Ningde, Fujian province. Photo: Reuters
Start-ups

Chinese spatial design firm Manycore Tech files for IPO in Hong Kong

Manycore and DeepSeek are part of a group of start-ups, called ‘Six Little Dragons’, that have bolstered the tech-hub status of Hangzhou.

Hangzhou-based Manycore Tech operates the world’s largest spatial design platform. Photo: Shutterstock
Banking & finance

Hong Kong’s market watchdog reviews 8 brokerages amid IPO frenzy

SFC monitoring brokerages with respect to their risk management of margin financing for new stocks, CEO Julia Leung says.

Hong Kong stock market

Hong Kong to ease IPO rules for mainland Chinese firms

Market watchdog and exchange are studying the issue and will propose changes this year, treasury chief Christopher Hui says.

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