Hong Kong set to retain IPO crown in 2026, business confidence rises

Hong Kong is expected to maintain its position as a leading global fundraising hub in 2026, with a surge in IPO activity and improved business sentiment, according to recent reports released by global leading financial institutions.

UBS forecasts that the city will see 150 to 200 companies raise over HK$300 billion ($38.5 billion) through initial public offerings next year, as reported by South China Morning Post. This projected total would surpass the roughly HK$270 billion raised in 2025, a year that has already seen Hong Kong regain its top spot for IPO fundraising globally. The Swiss bank also predicts the Hang Seng Index could climb to 30,000 points in 2026, citing factors including the potential return of US capital and mega-listings.

Adding to the market momentum, Chinese AI unicorns MiniMax and Zhipu AI – seen as potential rivals to OpenAI – are planning to complete their IPOs in Hong Kong within weeks, according to Bloomberg.

The positive outlook is reflected in a business survey. The Hong Kong General Chamber of Commerce reported that 48.3 percent of the respondent firms hold a positive view of the city's business conditions for the next 12 months, a significant jump from 18.3 percent last year. Chamber Chairman Susan Yuen noted that while earlier threats of heightened US tariffs created uncertainty, the current geopolitical environment is viewed as more stable.