Over 10 international firms in IPO pipeline, new listing queue number hits record high: Bonnie Chan

Hong Kong Exchanges and Clearing (0388) chief executive Bonnie Chan Yi-ting said at the HSBC Global Investment Summit on Wednesday that more foreign companies expressed interest in listing in Hong Kong, with over 10 international firms in the pipeline.

Chan said that the initial public offering activities in 2026 have reached 40 percent of the full-year level last year, with a record-high number of new listing queuing.

As more foreign exchanges like Nasdaq plan to explore longer trading hours or even 24-hour trading, Chan noted that this adjustment may disadvantage local retail investors.

She explained that if massive trade happens at night while local investors are asleep, they might face a totally different market the next morning. Therefore, HKEX will proceed with the longer trading hours with caution.

Chan pointed out that investors will not inject more capital because of longer trading hours, while their investment considerations lie in the exchange's attractiveness and the products investors need.

Separately, she said in a blog that the Hong Kong Exchange can lead the charge in building bridges to create a truly connected Asian market, driving cross-border capital flows.

Asian markets are flourishing amid an influx of new participants and capital, with value growing fourfold since 2000 to reach US$34.4 trillion (HK$269.6 trillion) at the end of 2024.

Global investor exposure to Asia has also doubled to approximately US$6 trillion between 2014 and 2024, she added.

Regarding cross-listings, Hong Kong saw more than 150 companies from Southeast Asia already listed, with fundraising surpassing more than US$4.3 billion, making the city the most popular destination for Southeast Asian companies going public overseas, Chan said.

As the Asian and Oceanian Stock Exchanges Federation's 40th General Assembly, which convenes 18 regional exchanges, will be held next week, Chan said she is looking forward to working with partners to align priorities and find ways to advance coordinated action on cross-market connectivity.