About 10 overseas firms have utilized to record in Hong Kong this 12 months, protecting every thing from biotechnology to blockchain infrastructure, a Hong Kong trade govt mentioned.
As soon as all transactions are accomplished, 2026 will reportedly be the most effective 12 months for overseas listings in Hong Kong since at the very least 2020.
We really feel that that is the start of a structural change within the subsequent section of Hong Kong itemizing of worldwide firms.
– Johnson Chui, Head of International Issuer Providers, HKEX
Firms had been coming to Hong Kong to succeed in mainland customers or develop Higher China manufacturers. That pattern is altering, trade executives say.
Inquiries have been acquired from South Korea, Indonesia, the UK, Singapore and elements of continental Europe, each for first-time IPOs and twin listings.
Firms with out vital revenues in Asia are actually approaching Hong Kong traders throughout sectors unrelated to China.
Blockdaemon may very well be the primary cryptocurrency firm to check Chapter 18C
Blockdemon, a US blockchain infrastructure firm, is in early talks about an preliminary public providing in Hong Kong, however a schedule has not but been confirmed. If the itemizing goes forward, it’ll take a look at whether or not crypto firms deal with the town as a real various to the Nasdaq.
Hong Kong launched Chapter 18C in 2023, a list framework for high-tech firms that haven’t but met profitability benchmarks. Industrial candidates will want annual revenues of HK$250 million and a market capitalization of HK$4 billion.
For early-stage firms, the valuation requirement is HK$8 billion and extra stringent R&D requirements.
As of March, 14 firms have gone public utilizing the platform, with AI, robotics and semiconductor design being the primary sectors. Nonetheless, in response to HKEX knowledge, no crypto firms are utilizing it but.
The Securities and Futures Fee’s (SFC) licensing framework for digital forex exchanges consists of custody, AML necessities, investor safety, and spot digital forex ETFs.
With regards to contemplating which exchanges to record crypto startups on, Hong Kong has one thing distinctive that Nasdaq at the moment lacks: predictable regulation.
40 IPOs elevate $14.1 billion in first quarter
As Cryptopolitan reported in December, Hong Kong ended 2025 with greater than 300 firms making use of to record.
Based on HKEX, 40 IPOs introduced in HK$110.4 billion ($14.1 billion) within the first quarter, a major improve from the identical interval final 12 months. Each day money gross sales averaged HK$276.7 billion, with Inventory Join inflows from mainland traders accounting for a lot of the enhance.
Kenneth Chow, Citigroup’s head of fairness capital markets Asia, mentioned Hong Kong would give firms entry to “the widest doable vary of capital”, from worldwide funds and hedge funds to mainland institutional and particular person traders.
Singapore is dwelling to ASEAN issuers, however low buying and selling volumes maintain progress firms undervalued. Though London has institutional depth, it continues to lose out to New York on technology-related lists.
Though Nasdaq maintains its place because the broadest pool of know-how traders, modifications are occurring in that crypto firms should determine between liquidity and regulatory security.
