Deloitte: Hong Kong IPO fundraising surges 112% in first three quarters of 2026
Deloitte China reported on September 24 that Hong Kong's IPO market saw 116 new listings raising HK$387.9 billion in the first three quarters of 2026, a 112% surge in funds year-on-year. The firm raised its full-year forecast to at least HK$480 billion from 160 IPOs, potentially surpassing the 2010 record. Growth was driven by regulatory support for A-share to H-share dual listings and hard-tech, AI-related sectors.
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Deloitte Forecasts 112% Surge in Hong Kong IPO Funds for First Three Quarters of 2026
On September 24, Deloitte China's Capital Market Services Group released a report reviewing the first three quarters of 2026 for the Hong Kong and mainland China IPO markets. The report forecasts that Hong Kong will see approximately 116 new listings in the first three quarters, raising a total of 387.9 billion Hong Kong dollars. This represents a 76% increase in the number of new stocks and a 112% increase in fundraising compared to the same period in 2025, which saw 66 IPOs raising 182.9 billion Hong Kong dollars. The report notes that 73% of the total funds were concentrated in 9 mega and 20 large IPOs, and 38 'A-share first, H-share second' dual listings contributed nearly 70% of the market's fundraising. Deloitte partner Ren Shaowen attributed the strong performance to supportive regulatory policies for dual listings and industry leaders. The report also indicates that 3 to 4 mega IPOs targeting at least 10 billion Hong Kong dollars each are pending, and expects around 160 IPOs by year-end, raising at least 480 billion Hong Kong dollars, with a focus on hard-tech and AI-related sectors. Ren stated that the market is on track to potentially surpass the 2010 record for annual IPO fundraising, reflecting the success of ongoing reforms in listing rules, product innovation, and the capital market ecosystem.
Read sourceDeloitte Forecasts Hong Kong IPO Fundraising Could Hit Record High in 2026
A report by Deloitte China's Capital Market Services Group, released in Beijing on September 24, forecasts that Hong Kong's IPO market could raise a record amount in 2026, potentially surpassing the nearly 450 billion Hong Kong dollars raised in 2010. The forecast is attributed to multiple regulatory reforms, future policy dividends, and several large-scale IPOs in the pipeline. For the first nine months of this year, Hong Kong is expected to see about 116 IPOs raising a total of 387.9 billion Hong Kong dollars, a 76% increase in the number of IPOs and a 112% increase in fundraising compared to the same period in 2025. Deloitte attributes this surge to official support for mainland industry leaders listing in Hong Kong, rising demand for the AI ecosystem, and targeted local market reforms. The firm expects the momentum to continue through the end of the year, with about 160 IPOs raising at least 480 billion Hong Kong dollars. Separately, the report forecasts that the A-share market will see 122 IPOs raising 212.3 billion yuan in the first three quarters, a 56% increase in IPO numbers and a 175% increase in fundraising year-on-year.
Read sourceDeloitte Raises Hong Kong 2026 IPO Forecast to at Least HK$480 Billion
Deloitte China's Capital Market Services Group released a report on September 24, 2026, raising its full-year IPO fundraising forecast for Hong Kong to at least HK$480 billion. Deloitte China South Region Managing Partner Ou Zhenxing stated that with 3-4 mega IPOs each targeting at least HK$10 billion, and a listing application queue of over 500 companies as of August 2026, Hong Kong is expected to see about 160 new listings by year-end, potentially surpassing the 2010 record. He noted that hard-tech enterprises, particularly in AI infrastructure (high-performance computing, semiconductors, data centers, advanced power systems), robotics, biotech, and consumer firms, will be market drivers. However, volatile interest rates could affect fundraising, barring major black swan events. Deloitte expects 116 IPOs in the first three quarters raising HK$3.879 billion, a 76% increase in listings and 112% increase in funds raised year-on-year. 73% of funds are concentrated in 9 mega and 20 large IPOs, with 38 A-share to H-share dual listings accounting for nearly 70% of total funds. Deloitte partner Lv Zhihong attributed the boom to regulatory support for dual listings and reforms enhancing Hong Kong's competitiveness as a financial hub.
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Deloitte Forecasts 112% Surge in Hong Kong IPO Financing in First Three Quarters
Deloitte China's Capital Market Services Group released a report on September 24, forecasting that the Hong Kong IPO market will see approximately 116 new listings in the first three quarters of 2026, raising a total of HK$387.9 billion. This represents a 76% increase in the number of new stocks and a 112% surge in financing volume compared to the same period in 2025, which saw 66 IPOs raising HK$182.9 billion. The report notes that 73% of the financing is concentrated in 9 mega and 20 large-cap IPOs, with 38 'A-share first, H-share second' dual listings contributing nearly 70% of total market financing. Deloitte partner Ren Shaowen attributed the momentum to regulatory support for dual listings and mainland industry leaders listing in Hong Kong. The report also forecasts 3-4 additional mega IPOs targeting at least HK$10 billion each, and expects around 160 IPOs by year-end, raising at least HK$480 billion, potentially surpassing the 2010 record. Hard-tech companies, particularly those related to AI model training and infrastructure, are expected to be market highlights.
Read sourceDeloitte Forecasts 112% Surge in Hong Kong IPO Proceeds for First Three Quarters
On September 24, Deloitte China's Capital Market Services Group released a report reviewing the first three quarters of 2026 and providing an outlook for the Hong Kong and mainland China IPO markets. The report forecasts that Hong Kong will see approximately 116 new listings in the first three quarters of 2026, raising a total of 387.9 billion HKD. This represents a 76% increase in the number of IPOs and a 112% increase in funds raised compared to the same period in 2025, when 66 IPOs raised 182.9 billion HKD. The report notes that 73% of the total funds raised came from 9 mega-cap and 20 large-cap IPOs, and that 38 'A-share first, H-share second' dual listings contributed nearly 70% of the total IPO proceeds. Deloitte China partner Ren Shaowen attributed the market strength to multiple favorable factors and positive market sentiment, including regulatory support for dual listings and leading mainland companies. The report also indicates that 3 to 4 mega-cap IPOs targeting at least 10 billion HKD each are in the pipeline. Deloitte expects Hong Kong to host about 160 IPOs by year-end, raising at least 480 billion HKD, with hard-tech companies, particularly those related to AI model training and infrastructure, becoming market focal points. Ren stated that the Hong Kong IPO market is approaching a new milestone and may surpass the record annual fundraising set in 2010, reflecting the success of ongoing reforms in listing rules, product innovation, connectivity, and regulation.
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