Overview

• Hong Kong raised US$13.2 billion from 38 IPOs in 2025, overshadowing SGX’s single US$4.5 million deal
• IFBH’s HK$1.16 billion listing saw shares climb 42% on debut, valuing the Thai coconut water firm at US$1.3 billion
• Mirxes’ biotechnology IPO in May raised HK$1.09 billion and recorded a 28.8% jump on its first trading day
• HKEX’s US$6.5 trillion market capitalization and US$30 billion daily turnover dwarf SGX’s US$488 billion cap and US$1.1 billion turnover
• Deep liquidity, Asia-focused investor demand, and shifting geopolitical tensions have revitalized Hong Kong’s appeal as Asia’s premier listing venue