The Hong Kong IPO market leaped out of the gates in 2026 and once again topped the global ranking in terms of IPO proceeds, raising HK$109.9 billion in the first quarter across 40 new listings - nearly six times the amount raised and three times the number of new listings in the same period last year, according to KPMG’s latest Chinese Mainland and Hong Kong IPO Markets 2026 Q1 Review.
The surge was primarily driven by 15 completed A+H listings, which accounted for 60% of total IPO funds raised, compared to just one in 2025 Q1. Specialist technology companies listing under Chapter 18C also saw a significant uptick during the quarter, raising HKD19.5 billion across 6 IPOs, representing 18% of total proceeds.
Hong Kong’s IPO pipeline is at a multi-year high with A+H listing applications reaching record levels. This depth of demand should sustain momentum in A+H listings through the rest of the year.
