Hong Kong IPOs ride China’s tech wave, but Nasdaq leads way with SpaceX tsunami

AI Summary

Hong Kong's IPO fundraising for tech firms rose by 84% year-on-year in the first half of 2026, consolidating its role as a key offshore financial hub for Chinese issuers. However, Nasdaq surpassed Hong Kong's IPO crown following the blockbuster SpaceX listing, highlighting a shift in global capital markets.

Hong Kong has surrendered its IPO fundraising crown to Nasdaq following SpaceX’s blockbuster listing earlier this month, but it did so while seeing its IPO proceeds register a year-on-year rise of about 84 per cent in the first half of 2026 – consolidating the region’s position as a primary offshore financial hub for Chinese issuers. A total of 83 companies raised US$26.42 billion on the Hong Kong stock exchange’s main board from January to June, according to LSEG Data & Analytics. The figure,...