Over 400 Companies Lined Up For Hong Kong IPOs; HKEX Says Market Can Absorb

The Hong Kong Stock Exchange disclosed that nearly 100 new initial public offering applications were submitted in January 2026, bringing the total number of pending listings to 414 at the end of the month.

Responding to concerns that such a large pipeline might overwhelm market capacity, HKEX Chief Executive Officer Chen Yiting said at the 2026 media luncheon on February 4 that she is not worried. She emphasized that Hong Kong’s open market environment will attract capital to high‑quality IPOs from around the world, noting that international investors are seeking diversified allocations and continue to favor Hong Kong listings. Chen observed that the origin of IPO applicants has become more geographically diverse, with companies applying from Mainland China, Thailand, Indonesia, Singapore and Dubai, and that strong offerings are drawing capital from Europe, the Middle East and Southeast Asia.

Chen said HKEX is accelerating its review process and aims to provide feedback within 40 working days of receiving an application, while stressing that timely and efficient reviews depend on sponsors submitting complete, high‑quality application materials. The Hong Kong Securities and Futures Commission recently issued circulars to 13 sponsors requiring internal reviews and remedial measures after identifying deficiencies in some IPO filings, and the SFC has suspended the processing of 16 listing applications to date. Chen welcomed the SFC’s efforts to address rushed filings but cautioned that document quality should be distinguished from issuer quality, adding that overall the pool of Hong Kong IPO candidates remains strong—an explanation for the steady inflow of global capital. She said the SFC’s actions are intended to reinforce filing standards rather than to question issuers’ qualifications, and that this approach supports Hong Kong’s reputation as a high‑quality international financial center while helping to sustain review efficiency.

Chen further noted that Mainland regulators continue to support listings in Hong Kong. HKEX will collaborate with Mainland exchanges to provide financing for companies developing new productive capacities and to assist Mainland firms in expanding overseas, aligning with national strategies for high‑level opening up. She also reported that discussions with overseas long‑term and sovereign funds at the Davos Forum revealed strong interest in allocating to technology companies, with investor focus shifting from foundational capabilities such as chips and compute toward AI applications and energy compared with 2025.