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“Recently, many international long-term investors have actively participated in the IPO subscriptions of technology and innovation companies, reflecting strong global interest in China’s tech sector,” she said at HKEX’s Future Tech Summit on Friday.
In the first eight months of this year, IPO fundraising in Hong Kong reached HK$134.5 billion (US$17 billion), soaring 579 per cent from HK$19.8 billion a year earlier, according to the latest monthly market highlights published by HKEX on Thursday. A total of 59 companies listed in the first eight months, up 37 per cent from a year earlier, it added.
Of the HK$358 billion raised through refinancing as of the end of last month, nearly 40 per cent went to tech companies, according to Chan.
A total of 24 biotech companies and 12 specialist technology firms have filed listing applications under HKEX’s Chapter 18A and 18C listing rules, according to Chan. The bourse operator introduced Chapter 18A in 2018 and Chapter 18C in 2023 to attract listings from high-potential biotech and technology companies without a track record of revenue and profit that is usually required of listing candidates.
These companies covered a range of cutting-edge fields, including visual intelligence, the metaverse and digital-content platforms, autonomous driving and robotics, “fully demonstrating the Hong Kong market’s strong appeal and openness to innovative enterprises”, Chan said.
