Five to 10 companies with investments from Hong Kong Investment Corporation said they intend to go public in the city this year, said the Clara Chan Ka-chai, chief executive of the government fund managing HK$62 billion in assets.
Some of them have submitted the applications for initial public offerings, though Chan did not reveal their names.
HKIC has invested in more than 100 companies, Chan reiterated.
She added that every Hong Kong dollar from HKIC has attracted over four Hong Kong dollars from its co-investors.
This comes as Hong Kong’s IPO market has revived amid the inflow of foreign and mainland China capital to mitigate global trade risks. Battery giant CATL topped global ranking by fundraising value for the year so far with its over HK$41 billion share sales, lifting the city to the second spot in global fundraising.
HKIC held the first International Forum for Patient Capital in Hong Kong today, gathering about 80 long-term investment institutions from 15 jurisdictions with a total asset under management of over US$20 trillion (HK$156 trillion).
The event aims to build a platform between patient capital and opportunities in innovative and technology in mainland China and Hong Kong, said HKIC.
HKIC also introduced three new partnerships, Patient Capital Strategic Fund with Gobi Partners focusing on generation innovation and technology, the "Co-investment Partnership Programme” with Lanchi Ventures to support Chinese technology entrepreneurs and the globalization of Chinese technological capabilities, and the International Strategic Expansion Platform with Gaw Capital to accelerate the commercialization and applications of new technologies primarily for the development in the global south with a focus on the Middle East.
THEMIS QI
