88 of the 219 Southeast Asian companies listing overseas between 2014 and 2025 chose HKEX, compared with 73 listing on North American exchanges, 40 choosing other Asia-Pacific exchanges, and 18 floating on European exchanges.
Based on 2025 IPO fundraising data, Industrials and New Energy companies account for the largest share of proceeds at approximately 38%, reflecting sustained issuance activity from capital‑intensive and infrastructure‑related sectors. TMT represents around 21% of IPO fundraising, while Consumer and Healthcare/Biotech each contribute meaningful shares at approximately 13% and 11%, respectively. In global comparisons, Hong Kong ranks #1 by IPO volume for Industrials, Metals & Mining and Consumer sectors, and #2 for TMT and Healthcare/Biotech, indicating that fundraising activity on HKEX is distributed across a broad set of industry segments.
HKEX’s Stock Connect programme stands out as the only channel available for global issuers to access capital from Mainland China. Through Southbound Stock Connect, HKEX offers a unique opportunity for IPO hopefuls to tap both international and Mainland Chinese capital.
HKEX Adds Stock Exchange of Thailand as Recognised Stock Exchange
HKEX Adds Indonesia Stock Exchange as Recognised Stock Exchange
HKEX Signs Cooperation Agreement with Indonesia Stock Exchange
List of Recognised Stock Exchanges
This 2024 report explores the fundraising landscape in Southeast Asia, Exit / IPO considerations, and highlights HKEX’s unique role in connecting innovative new economy companies from Southeast Asia with international and Mainland Chinese capital. It also discusses why HKEX is particularly well suited as listing venue of choice for Southeast Asian companies, and contains valuable market data and information on our ongoing listing regime enhancements.
Sources: HKEX filings, Bloomberg, Dealogic, Factset market data as of 31 Dec 2025
HKEX continuously looks for ways to enhance our listing regimes to support the liquidity, vibrancy and attractiveness of our marketplace.
Launch of New Economy Listing Reforms (Chapter 8A, 18A and 19C) introducing new rules for weighted voting rights, pre-revenue biotech companies, and secondary listings
Inclusion of weighted voting rights (WVR) listed companies in Southbound Stock Connect
HKEX-listed biotech companies added to Southbound Stock Connect
Enhanced Listing Regime for Overseas Issuers & Launch of SPAC Listing Regime (Chapter 18B)
Inclusion of ETFs in Stock Connect
Launch of 18C Specialist Technology listing regime
Launch of FINI
Indonesia Stock Exchange added as Recognised Stock Exchange
Introduction of a new transfer mechanism and test requirements to eligible Growth and Enterprise Market (GEM) issuers.
De-SPAC and Specialist Technology listing requirements temporarily modified
Enhanced Listing Application Timeframe introduced
Stock Exchange of Thailand added as Recognised Stock Exchange
Technology Enterprises Channel (TECH) Channel launched
Ongoing public float framework enhancements effective from 1 January 2026
我們為發行人提供多種前來香港上市的途徑，為發行人上市之旅的每一步提供幫助。
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