UBS: It is expected that the number and scale of Hong Kong IPOs this year have a chance to surpass last year, but the performance may be differentiated.

In 2025, Hong Kong recorded 119 IPO cases with a total fundraising amount of 285.8 billion Hong Kong dollars, regaining the title of the world's IPO fundraising champion. Chen Ge, co-director of the global investment banking department of UBS Securities, expects that in 2026, Hong Kong's IPOs have the opportunity to surpass 2025 in terms of both quantity and financing scale, and there will be more leading companies in emerging industries listing on the Hong Kong stock market. Chen also predicts that the performance of IPOs listed this year may show more obvious differentiation compared to last year because among the new stocks, there will definitely be some that fail to gain recognition from institutional investors. "20% of high-quality companies, leading companies, with real business strategy considerations or considerations for business expansion overseas, will receive 80% of attention; the other 80% of companies may only receive 20% or even less attention."