HKEX Confident in Handling Over 400 IPO Applications

Hong Kong’s IPO pipeline has swelled to unprecedented levels, with 414 applications under review at the end of January 2026 after nearly 100 new filings in the month. Despite concerns about “indigestion,” HKEX Chief Executive Chan Yik‑ting said the market has the appetite to absorb the surge.

Speaking at the annual media luncheon on February 4, Chan emphasized that Hong Kong’s openness ensures that quality IPOs attract capital from around the world. International investors are seeking diversified allocations, and Hong Kong listings remain highly appealing. She noted that applicants now come not only from mainland China but also from Thailand, Indonesia, Singapore, Dubai, and beyond, drawing funds from Europe, the Middle East, and Southeast Asia.

HKEX is accelerating its review process, aiming to provide feedback within 40 working days. But Chan stressed efficiency depends on sponsors submitting complete, high‑quality documents. The SFC recently cracked down on poor‑quality filings, issuing circulars to 13 sponsors and suspending 16 applications. Chan welcomed the move, saying it targets document quality rather than applicant qualifications, helping preserve Hong Kong’s reputation as a high‑quality financial center.

She added that mainland regulators continue to support Hong Kong listings, with HKEX working alongside mainland exchanges to finance new productive forces and assist companies in going global. At the Davos Forum, Chan said overseas long‑term and sovereign funds expressed strong interest in technology firms, though their focus has shifted from chips and computing power to AI applications and energy.