Hong Kong secured the top spot for global IPO fundraising in the first quarter of 2026, driven by a wave of Chinese technology and AI listings, according to Deloitte China’s Capital Market Services Group. Despite global market turbulence caused by the US–Israel–Iran conflict, the city hosted 40 IPOs raising HKD109.9 billion, a 504% jump in proceeds from the same period last year.
Three mega IPOs and eight large offerings accounted for nearly 70% of Hong Kong’s proceeds, with two major Chinese consumer companies ranking among the world’s top five IPOs. Nasdaq and the New York Stock Exchange trailed in second and third place, respectively, supported by listings from technology and industrial firms.
The Chinese mainland IPO market also showed strong momentum. The A-share market recorded 30 new listings raising RMB25.9 billion, up 59% in proceeds from the prior year. Shanghai led in total funds raised, while Beijing recorded the highest volume of new listings.
Deloitte analysts said Hong Kong’s outlook for 2026 remains robust, underpinned by over 500 listing applicants, including major AI, life sciences, and technology firms. The city is projected to host about 160 IPOs raising at least HKD300 billion this year, provided geopolitical and macroeconomic conditions remain stable.
With ongoing capital market reforms, the expansion of Stock Connect, and a shift in global capital toward Asia, Hong Kong is reinforcing its role as a strategic gateway for Chinese enterprises seeking international financing and long-term growth.
