PwC: Hong Kong IPOs Could Exceed $40 Billion in 2026
After reclaiming the position as the leading venue for initial public offerings in 2025, momentum is expected to continue for Hong Kong this year, according to PwC.
Hong Kong is forecasted to raise HK$320 billion ($41 billion) to HK$350 billion via approximately 150 initial public offerings (IPO), according to a commentary by PwC. This compares to nearly HK$285.8 billion in funds raised from 119 IPOs in 2025.
Despite ongoing geopolitical uncertainties, PwC believes that falling interest rates will boost investor confidence while being further complemented by favorable government policies.
New Economy Companies
Currently, 300 companies have filed IPO applications and of the 150 firms expected to list, PwC sees new economy sectors, particularly in innovation and biotech, as a key area of focus. Retail, consumer goods and services companies are also expected to benefit from the Chinese government's push for domestic demand and thus raise funds from listing in Hong Kong.
More than 10 companies are anticipated to raise over HK$5 billion and A-share firms will also continue the trend of utilizing Hong Kong's capital markets for international fundraising.
«Hong Kong's capital market performed exceptionally well in 2025, enhancing company valuations and boosting market confidence, significantly increasing Hong Kong's attractiveness as a listing destination,» commented Diamantina Leong, PwC Hong Kong Capital Markets Services Partner.
«We expect more overseas and innovative companies to opt for Hong Kong listings, reflecting the resilience and strength of Hong Kong's financial market, as well as its vital position in Asia-Pacific and global markets. Looking ahead, Hong Kong will continue to play a unique and important role in global capital markets, providing diverse opportunities for various companies to raise funds through listings.»
