Chinese artificial intelligence (AI) firms are leading a wave of listings in Hong Kong, aiming to capitalize on recent market momentum.
At least 25 companies, of which about half are technology firms, debuted their shares in the territory last month, making it the busiest month for deals since November 2019, data compiled by Bloomberg showed.
Another 10 companies are set to start trading in Hong Kong this month.
Photo: Reuters
Beijing’s support for the local semiconductor industry amid the global AI race is encouraging firms to accelerate expansion and fundraising plans. Recent blockbuster performances in some Chinese AI-related companies also underscore insatiable demand for future national champions that might rival the likes of Nvidia Corp.
AI firm MiniMax Group Inc’s (稀宇科技) offering is already several times subscribed after orders began yesterday.
Other companies planning to list in Hong Kong this month include image sensor manufacturer OmniVision Integrated Circuits Group (豪威集成電路) and memory device maker GigaDevice Semiconductor Inc (兆易創新).
“Interest on these AI names will continue in early 2026,” UOB Kay Hian Holdings Ltd (大華繼顯控股) executive director Steven Leung (梁偉源) said.
“It will benefit from investors switching from US AI names on recent worry of AI bubble, and obviously it’s also driven by expectation for favorable policies by the Chinese government on the sector,” Leung added.
The performances of recent IPOs in Hong Kong have been mixed.
Crypto exchange Hashkey Holdings Ltd, whose retail tranche was oversubscribed by nearly 400 times, fell on the first day of trading.
Meanwhile, shares of software producer Nuobikan Artificial Intelligence Technology (Chengdu) Co (諾比侃人工智) have surged more than 360 percent since listing on Tuesday last week.
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