On December 21, 2023, Central Business Information Limited (CBI) released the 2023 in Review: Hong Kong IPO Listing and Application Insights report for the first time to the industry. The report aims to share our insights and analysis of the Hong Kong IPO market in the past year and to explore the market trends for the coming year in collaboration with the industry.

CBI has been providing various IPO due diligence services for professional teams including sponsors, lawyers, and auditors. To keep abreast of the market developments, CBI continuously collects data on IPO activities and conducts analysis using our self-developed system, CBI MAP, not only focusing on successful IPO listings but also IPOs under application processes. These analyses are included in the "2023 in Review: Hong Kong IPO Listing and Application Insights" report.

In 2023, the Hong Kong IPO market has been facing numerous challenges, including the slower-than-expected recovery of China’s economy, the lack of substantial improvement in China-US relations, and the global interest condition, which all affected market sentiment and performance. The number of IPO listings has dropped by 14% compared to the previous year, with only 72 companies successfully listed, while the fund raising size has dropped by 53% to HKD 46.5 billion. Similar situation happens for IPO applications. The Hong Kong Stock Exchange has received IPO applications from 160 applicants, of which only 80 of them were new applicants submitting their initial IPO applications during the year, representing a 41% decrease from the previous year.

To understand the industry's outlook for the Hong Kong IPO market in 2024, we invited 100 industry participants to conduct a market survey. The results are shared in the "2023 in Review: Hong Kong IPO Listing and Application Insights" report. For more details, please download the report and explore for more.

 

DOWNLOAD NOW: 2023 in Review: Hong Kong IPO Listing and Application Insights