Surge in IPOs, Share Sales Fuel Optimism in Hong Kong (1)

Hong Kong’s equity capital markets are seeing the most action in years, with multibillion dollar deals lifting the mood and fueling anticipation about more transactions to come.

“I don’t think we have seen this kind of excitement for Hong Kong and China for a long time,” said Cathy Zhang, head of Asia-Pacific equity capital markets at Morgan Stanley.

Initial public offerings and additional share sales in the city have fetched $26.5 billion so far in 2025, compared with just $3.8 billion a year ago and the most since 2021, which was a record year, data compiled by Bloomberg ...