HK IPOs Raise Over HK$380 Billion in First Three Quarters, Top Three Underwriters Account for 42%

In the first three quarters of 2026, the Hong Kong IPO market delivered results far exceeding expectations, with 115 companies listing and raising a total of HK$385.566 billion. This fundraising volume surpasses any single year since 2011. The booming market has also benefited intermediaries, with a pronounced head effect; the top three underwriters collectively accounted for 42% of the total underwriting scale. However, resource constraints among sponsor institutions and issues regarding professional practice quality remain under regulatory scrutiny.