EY: Hong Kong IPO fundraising in the first half of the year ranked second globally, and the pressure from lifting the ban in the second half of the year is much lower than market estimates.

On June 24, Ernst & Young released data on the IPO market in Hong Kong. In the first half of 2026, the total amount of funds raised by new stocks listed on the Hong Kong Stock Exchange ranked second globally, with a total of 84 new stocks raising HK$209.8 billion, reaching a five-year high, with mainland Chinese companies dominating. At the same time, the activity of Chinese companies listing in the United States has decreased, with the number and amount of funds raised dropping by over 90% year-on-year, due to NASDAQ raising listing requirements. In addition, the estimated scale of stock unlocking in the Hong Kong stock market in 2026 is expected to exceed one trillion Hong Kong dollars, concentrated in the second half of the year, but the actual selling pressure may be lower than expected.