Hong Kong SFC: The plan to integrate GEM and the Main Board is still under consideration; a public consultation will be conducted.

GMTEightAP has learned that recently, Julia Leung, Chief Executive Officer of the Hong Kong Securities and Futures Commission, said that the plan to integrate the Growth Enterprise Market (GEM) with the Main Board is still under consideration. She further pointed out that HKEX will launch a public consultation on the proposal to widely solicit opinions from all sectors of the market. Earlier market reports revealed that HKEX is actively studying the feasibility of merging the two boards, hoping to enhance the overall attractiveness and operating efficiency of Hong Kong's capital market by streamlining the listing structure. As of September 24, HKEX had a total of 2,767 listed companies, including 2,461 on the Main Board and 306 on GEM, with market capitalizations of HK$455,820 billion and HK$74.5 billion, respectively. PricewaterhouseCoopers previously expected that Hong Kong's IPO fundraising for the full year of 2026 could reach HK$380 billion, 8.6% to 18.8% higher than the HK$320 billion to HK$350 billion expected at the beginning of the year, and it is expected to remain firmly among the world's top three IPO markets. It also believes that the strong momentum will continue into 2027. Despite short-term challenges facing the market such as geopolitical tensions, inflation, and interest rate volatility, the firm remains full of confidence in the growth momentum of Hong Kong's IPO market.