Hong Kong stock market ranks first in global fundraising in the first quarter, but it is estimated to be difficult to maintain the top spot for the whole year.

London Stock Exchange Group (LSEG) Deals Intelligence team announced that in terms of IPO and secondary listing financing in the first quarter of this year, Hong Kong has taken the lead globally with a market share of 33%, higher than Nasdaq's 14.1% and the New York Stock Exchange's 12.4%. However, it is unknown whether Hong Kong can maintain its position as number one until the end of the year. Ouyang Chenxing, Managing Partner of Deloitte China South China, said that if SpaceX and ChatGPT's parent company OpenAI successfully go public this year, it will pose a big challenge to Hong Kong's number one position, but Hong Kong still has advantages and is expected to continue to lead. He also pointed out that although SpaceX has filed for listing, the overall market is volatile, and the US-Iran conflict may take longer than expected, which will affect risk appetite in the US market. The firm had previously estimated that Hong Kong's new stock fundraising this year would be at least 300 billion yuan, with at least seven companies raising over 10 billion yuan in new stocks. Accounting firms had predicted at the beginning of the year that the LSEG Deals Intelligence team announced that the original IPO and secondary listing of the Main Board and GEM in Hong Kong accounted for a total of 63% of the total equity capital market (ECM) financing, raising a total of 13.3 billion USD, more than five times the same period last year, setting a record high in the first quarter in five years; in terms of quantity, it reached an eight-year high, more than 1.5 times higher on a year-on-year basis. In the first quarter of this year, Hong Kong saw at least 23 original IPOs raising a total of 4.7 billion USD, an increase of nearly 1.4 times year-on-year, reaching a high in the first quarter since 2021; there were also 15 secondary listings raising 8.5 billion USD, an increase of about 20 times, setting new highs in both financing amount and number of issues in history. According to LiveReport's big data statistics, in the first quarter of 2026, the Hong Kong stock market had a total of 39 new IPO listings (along with 1 introduction listing), a 160% year-on-year increase; raising approximately 109.9 billion Hong Kong dollars, a year-on-year increase of 489.3%. Among them, 15 new stocks were A+H new stocks, with A+H companies raising nearly 67 billion Hong Kong dollars, accounting for over 60%.