PwC predicts possible total $400 bn of fundraising in 2026 HK IPO offerings

PwC forecasts a total of up to HK$400 billion raised in funds for IPO offerings in Hong Kong in 2026, the highest among the Big Four accounting firms, with the other three estimating between HK$300-350 billion.

Eddie Wong, capital markets leader at PwC Hong Kong, forecasts at least two to three companies with HK$10 billion in fundraising value will be listed in Hong Kong in the second half of the year, with five to ten raising between HK$5 billion and HK$10 billion; easily achieving HK$380 billion, and possibly HK$400 billion, given that market conditions remain stable. 

This upswing is driven by leading Chinese Mainland enterprises listing in Hong Kong as the primary source of capital raised, an increasing number of Chinese Mainland tech companies pursuing dual listings, and strong international investor interest in high-growth new sectors - particularly artificial intelligence (AI), new materials, semiconductors, chips and creative robotics.

In the first half of 2026, buoyed by these positive trends, Hong Kong's IPO market set a five-year high in both fundraising amount and number of listings, raising HK$210 billion, up 92 percent year-on-year, ranking second globally. 

Meanwhile, Hong Kong recorded 87 new listings, almost doubling from the first half of 2025, comprising 83 main board listings, two transfers from GEM to the main board, one main board listing by way of introduction and one GEM listing. 

The momentum is projected to extend into 2027. 

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