Six companies launched Hong Kong offerings on Wednesday, seeking to raise as much as a combined HK$19.8 billion ($2.5 billion), with Shenzhen-listed precision parts maker Lingyi iTech accounting for the largest deal, exchange filings showed.
The launches come as global markets stabilise following a ceasefire agreement in the Middle East. Hong Kong IPOs and second listings have raised $21.5 billion so far this year, more than double the same period in 2025, according to LSEG data to June 11.
“Several companies launched their offerings today, which I believe is mainly because we are now entering late June,” said Kenny Ng, a strategist at China Everbright Securities International. “Typically, many issuers rush to launch their listings before the first half of the year ends to meet financial disclosure requirements.”
Ng said he expects SpaceX’s record listing will only have a limited impact on Hong Kong’s IPO market, because local investors have a relatively low participation rate in SpaceX’s share subscription.
“Instead, I believe the performance of the secondary market will have a more direct impact on investor enthusiasm for new listings,” he said.
The companies are:
• Lingyi iTech, which supplies precision parts and hardware for artificial intelligence devices, is seeking to raise up to HK$8.3 billion.
• SG Micro Corp, a Chinese chip design company, aims to raise up to HK$4.6 billion.
• Circuit Fabology Microelectronics Equipment, a semiconductor equipment maker, plans to raise up to HK$3.2 billion.
• Indonesian gold miner PT Merdeka Gold Resources is seeking to raise up to HK$2.39 billion through Hong Kong depositary receipts.
• Beijing Zhongke WengeAI Science and Technology, an AI company, aims to raise HK$900.5 million.
• Keytop Parking, a smart parking systems provider, plans to raise HK$399.9 million.
($1 = 7.8328 Hong Kong dollars)
Reuters
