On October 3, 2024, according to KPMG’s latest Chinese Mainland and Hong Kong IPO Markets 2024 Q3 review, Hong Kong has regained its position among the top five global IPO venues.

Hong Kong IPO activity displayed signs of recovery in the third quarter of 2024, with 45 listings and a total fundraising of HK$55.6 billion recorded so far in 2024. Both the amount of fundraising and the number of listings spiked 123% and 2% respectively compared to the same period last year. It is worth noting that the consumer markets sector led in terms of funds raised, attributable to the listing of a large Chinese home appliance maker, which alone attracted HK$ 35.7 billion, as Hong Kong’s largest IPO in the last three years.

Hong Kong has regained its position among the top five global IPO venues in funds raised.

As of the third quarter of 2024, global IPO markets raised a total of US$ 83.3 billion through 851 deals, reflecting declines of 21% in funds raised and 15% in the number of deals compared to the same period last year.

Among them, the two stock exchanges in the US continued to lead the world in terms of fundraising, accounting for one-third of the total IPO funds raised worldwide. The National Stock Exchange of India ranked third, while the Hong Kong Stock Exchange and the Shanghai Stock Exchange ranked fourth and fifth, respectively.

The KPMG report reflects investors’ renewed confidence in the Hong Kong IPO market, demonstrating that Hong Kong has retained its global financial and trading centre, which is still favourable for doing business.