HONG KONG, May 25 (Bernama-Xinhua): Paul Chan, financial secretary of the Hong Kong Special Administrative Region (HKSAR) government, said on Sunday that Hong Kong's IPO fundraising has surpassed 76 billion HK dollars (about US$9.7 billion) so far this year, soaring sevenfold year-on-year and reaching nearly 90 per cent of last year's total.
Chan said in his blog that amid an uncertain external environment, Hong Kong, as a "super connector" between the mainland and the global market, is making every effort to seize opportunities, reported Xinhua.
Last week, two major themed financial forums were held in Hong Kong, driving strong fundraising activity in the market.
Many seasoned foreign investors expressed their intention to increase asset allocations in the mainland and across Asia through Hong Kong. In the same week, the Hong Kong IPO market welcomed the largest new stock listing globally this year.
Additionally, the Hong Kong Investment Corporation Limited hosts its inaugural International Forum for Patient Capital.
Many tech company representatives noted that the event helped them connect with more potential investors and long-term funding, facilitating better capital alignment with innovation-driven enterprises and providing stronger support for technology research, development, and commercialisation.
On May 23, the ordinance on company re-domiciliation officially took effect.
On the day of the announcement, a major international insurance company responded by declaring its plan to relocate its registration to Hong Kong. The market anticipated that companies from other sectors, such as shipping, may also follow suit.
Chan said that the strong performance of Hong Kong stocks this year, along with the increasing number of domestic and international companies establishing global headquarters, research centres, and regional offices in the city, reflected the confidence of global investors and businesses in Hong Kong. (US$1 equals 7.83 HK dollars). Bernama-Xinhua
