Hong Kong IPO filings rush in amid worries trade war may slam listing window shut
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In the first four months of this year, 112 companies submitted applications to list on the main board of the exchange, a 29 per cent increase from 87 in the same period last year, according to Post calculations based on exchange data. The pipeline grew rapidly last month, with 43 filings, twice the number seen in April 2024.
If active submissions filed last year are included, 152 companies are waiting to list on Asia's third-largest bourse.
'Many companies are moving forward with their Hong Kong listings,' said Sherlyn Lau, Hong Kong-based partner at law firm Sidley Austin, adding that many firms were filing applications at an accelerated pace because they aimed to list by year's end. 'This pace contrasts sharply with last year's slower pipeline.'
Driven by recent successful IPOs in the city and increasing investor interest in certain active sectors – including consumer, artificial intelligence, robotics, energy and biotech – companies were hoping for better valuations, she added.
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'They work on the basis that this momentum will continue through 2026, and want to be prepared when the window opens,' Lau said.
While being cautiously optimistic about the city's IPO outlook for the rest of the year, Richard Wang, partner at law firm Freshfields, said the uncertainty in the US could impact the Hong Kong market.
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