Hong Kong’s market watchdog and bourse operator rolled out a dedicated listing program and a new confidential filing option to facilitate floats of specialist technology and biotechnology companies on Tuesday, as a bold move to boost the appeal of the fundraising hub amid a growing appetite among Chinese mainland companies to raise capitals offshore.
The Technology Enterprises Channel, jointly announced by the Securities and Futures Commission (SFC) and Hong Kong Exchanges and Clearing (HKEX), aims to offer early and tailored guidance for specialist tech and biotech companies making their debuts in Hong Kong, according to the HKEX statement.
It was first outlined by Hong Kong’s Financial Secretary Paul Chan Mo-po while delivering the 2025-26 budget, who set his sights on companies already listed in the mainland getting a boost for their Hong Kong listing plans.
READ MORE: Hong Kong to launch new channel to fast track tech listings
The Hong Kong IPO market has shown remarkable momentum in the first quarter of 2025, recording a significant uptake in large IPO deals. Six IPOs raised over HK$1 billion ($130 million) in the first quarter of the year, compared to just one IPO during the same period last year, as data from accounting firm KPMG showed.
KPMG attributed the influx of large IPOs to the growing popularity of the home-grown artificial intelligence (AI) startup DeepSeek, whose breakout success has shifted global investor interest towards mainland tech companies.
HKEX Head of Listing Katherine Ng Kit-shuen said in the statement that the Technology Enterprises Channel looks to help would-be listed firms “address key matters at a preparatory stage and navigate regulatory requirements with greater clarity and confidence, thereby facilitating a more efficient pathway to successful listing in Hong Kong”.
SFC Executive Director of Corporate Finance Michael Duignan said the initiative has what it takes to strengthen Hong Kong’s entrenched status as “a premier listing platform for emerging and innovative companies”.
READ MORE: CATL to launch HK listing in week of May 12, sources say
The city is waiting Contemporary Amperex Technology, the world’s largest maker of batteries for electric vehicles (EVs), to kickstart its reported $5-billion listing, the largest IPO in Hong Kong in years. The EV giant reportedly launched its pre-deal roadshow for international investors on Tuesday to gauge investor interest.
Contact the writer at sophialuo@chinadailyhk.com
