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IPO

IPO
Latest news and analysis on initial public offerings (IPOs), with a particular focus on companies raising funds on the Hong Kong Stock Exchange.
A view of Hong Kong-Shenzhen Innovation and Technology Park, part of the Northern Metropolis, in the Lok Ma Chau Loop on April 22. Photo: Edmond So
Hong Kong economy

Opinion | Hong Kong should adopt the ‘Hefei model’ in the Northern Metropolis

If the Northen Metropolis megaproject is to accelerate, a fundamental overhaul of the existing legal framework and development model is required.

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Banking & finance

The Stock Connect problem: why can’t investors buy the mainland’s top AI stocks?

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Semiconductors

Chinese memory makers step up challenge to Korea’s chip champions

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Artificial intelligence

China launches space computing hub as SpaceX gears up for historic IPO

New institute highlights Beijing’s bid to leapfrog energy bottlenecks and underscores how tech race with US is moving off-planet.

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The establishment of the institute marks a major step in the China-US AI rivalry, which is increasingly extending beyond Earth. Photo: Shutterstock
Banking & finance

China sees revival of foreign investors through IPOs, convertibles: UBS

The trend is part of a broader recovery of interest in Chinese assets from investors overseas.

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China consumption

IPOs, expansion plans give China’s growing pet food sector paws for thought

Shanghai-based pet food maker Fubei has filed an application for an initial public offering in Hong Kong.

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Hong Kong economy

Editorial | Kazakhstan partnerships redefine Hong Kong’s strategic role in Central Asia

Chief Executive John Lee’s trip has delivered concrete results that will enhance business and economic ties and boost tourism.

Hong Kong Chief Executive John Lee (left) meets Kazakh President Kassym-Jomart Tokayev (second right), in Astana, Kazakhstan, on June 1, to exchange views on deepening bilateral relations. Photo: Handout
Stocks

Why Hong Kong is now the launch pad for mainland China’s AI champions

City emerges as a price-discovery hub, with mainland AI firms reversing a decades-old dual-listing order to secure global benchmarks.

SpaceX

Editorial | SpaceX IPO lift-off could test global equity bull run

Set to be the largest stock debut in history, the SpaceX initial public offering could indicate the depth of investor confidence in the AI boom.

Robotics

Unitree clears Shanghai IPO hurdle as China’s humanoid robot wave gathers pace

Listing plan highlights Unitree’s push to invest more in robot ‘brains’ as it joins competitors in China’s humanoid rush.

A Unitree robot works in a hardware store in Pocking, Germany. The robot operates in supervised mode and its goal, according to the store operator, is to support employees, not replace them. Photo: EPA
Hong Kong economy

Open Questions | Hong Kong must embrace ‘bipolar’ role to thrive in its ‘Stage 3.0’: Charles Li

Veteran deal maker urges an IPO link to lure global resource giants and turn Chinese buyers into owners as city solidifies role as East-West bridge and global capital hub.

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Illustration: Victor Sanjinez
Artificial intelligence

AI firm MiniMax prepares for mainland China listing after Hong Kong shares surge

Chinese AI model company hires Citic Securities to prepare a mainland share sale, with the listing venue yet to be confirmed.

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HKEX

As Hong Kong stock exchange turns 40, can the chip supercycle keep IPOs flowing?

US$6.1 trillion exchange marks its 40th year amid fierce global competition, as brokers see challenges sparking opportunities.

HKEX

HKEX revamps Tech 100 Index as benchmark struggles to keep pace with AI rally

Seven firms including Hesai, Geekplus and Deepexi join the index as investors question whether local benchmarks reflect fast-rising AI sector.

An exterior view of Exchange Square in Central, home to Hong Kong Exchanges and Clearing, on March 13. Photo: Jelly Tse
Banking & finance

China’s private funds see assets soar by over US$400 billion amid tech boom

Chinese investors are putting more money into private equity, venture capital and other private funds amid a surge in tech investment.

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People visit a Metax booth during the World Artificial Intelligence Conference in Shanghai. Photo: Reuters
Hong Kong economy

Opinion | Cross-border wealth hub crown latest sign Hong Kong is roaring back

City overtook Switzerland in BCG wealth report, underscoring vital ‘superconnector’ role between mainland and international capital markets.

HKEX

HKEX revamps US$812 million headquarters with new entrance, museum in Central

HKEX official says project aims to create ‘a future-ready, globally recognised hub’ and ‘more prominent branding in the heart of Central’.

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Artificial intelligence

China’s MiniMax records 1-million client base, fivefold growth in half a year

Its global user base reaches 300 million while ARR more than doubles in two months, though company reports large total losses.

A Minimax logo displayed on a smartphone screen. Photo: Shutterstock Images
HKEX

Open Questions | Charles Li on making Hong Kong a magnet for global IPOs

As HKEX CEO, Charles Li forged Stock Connect link to mainland markets. He says an ‘IPO connect’ could draw international companies to list in Hong Kong.

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Banking & finance

Hong Kong beats Switzerland as world’s largest offshore wealth hub, BCG finds

City tops cross-border wealth on IPO surge and mainland China inflows, as Singapore and US trail in consultancy’s global rankings.

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China stock market

Unitree’s IPO progress spurs stock buying of firms with exposure to robot maker

As the robot manufacturer moves a step closer to its IPO, stocks of its investors and supply chain makers have shot up.

An electronic board shows stock prices below a pedestrian bridge in the Lujiazui financial district in Shanghai. Photo: Reuters
Artificial intelligence

As China’s humanoid-robot hype cools, Unitree sees profit plunge

A filing shows adjusted profit fell 53 per cent, even as revenue continued to rise, highlighting tough competition in humanoid robot sector.

A Unitree humanoid robot displayed during an international exhibition on AI in Cannes, France, on February 12. Photo: EPA
SpaceX

How Hong Kong investors can gain exposure to SpaceX’s record-breaking US$75b IPO

Options for potential exposure include brokerages offering access to US stocks, buying into SpaceX’s partners, and exchange-traded funds.

Hong Kong stock market

SpaceX share sale won’t drain Hong Kong IPO boom, JPMorgan says

Bank sees strong demand for Chinese AI, robotics and healthcare listings despite SpaceX’s projected record-breaking IPO in the US.

Artificial intelligence

China’s AI start-up funding triples in first quarter amid bets on LLMs, robotics

The fundraising boom follows years of state-led efforts to channel capital into strategic sectors such as chips, AI and manufacturing.

AI-related start-ups in China secured more than 110 billion yuan in the first three months of the year. Photo: Shutterstock Images
SpaceX

SpaceX’s US$75 billion IPO sparks liquidity fears as Fed rate-increase odds rise

The blockbuster offering’s repercussions could be far-reaching, drawing capital away from Hong Kong and the broader Asia-Pacific region.

The SpaceX Starship sits on the launch pad ahead of its sixth flight test from Starbase in Boca Chica, Texas, on November 17, 2024. Photo: AFP/Getty Images/TNS
Semiconductors

What is YMTC, the latest contender in China’s memory-chip IPO push?

As China’s memory-chip giants YMTC and CXMT progress towards IPOs, they shine a spotlight on Beijing’s tech self-sufficiency ambitions.

HKEX

Hong Kong set to be ousted by Nasdaq as world’s biggest IPO market

International investors remain interested in Hong Kong tech listings due to attractive valuations, UBS and JPMorgan say.

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