The number of companies applying for a listing in Hong Kong this year has hit an all-time high, as the territory tries to regain its status as a top financial hub and attract Chinese companies looking to expand abroad.
A total of 208 companies applied for primary or secondary listings on the Hong Kong Exchange in the first six months of this year, beating the previous record of 189 companies in the same period in 2021, according to data from the exchange. Last month, 75 companies applied — a record number for a single month.
Companies have been attracted by Hong Kong’s soaring equity market, Chinese investors moving money into the territory and its relative openness to equity fundraising compared with the mainland. Chinese companies have also been attracted by the prospect of raising money in a currency pegged to the US dollar outside of China’s capital controls.