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New Straits Times
16-06-2025
- Business
- New Straits Times
Hong Kong bourse seeks to woo Southeast Asia, Middle East firms for second listings
HONG KONG: The Hong Kong stock exchange plans to attract listed companies in Southeast Asia and the Middle East, in particular, for second listings in the financial hub, its chief executive said, as the bourse looks to burnish its global credentials. Hong Kong Exchanges and Clearing Ltd (HKEX) also sees a pickup in the number of companies listed in mainland China markets seeking a listing in the city to raise capital for their global expansions, Bonnie Chan said. "We're now more focused on companies which are actually already listed on another market, but might have outgrown their domestic market," said Chan, a former capital markets lawyer, who took over as HKEX's first female CEO last year. "I am now beginning to realize that our sweet spot may not be private companies." As part of those efforts, the Hong Kong stock exchange will soon open a representative office in Riyadh, Chan said, which will allow "even closer connection" with the Saudi exchange, after recent product launches. Three Singaporean firms listed in Hong Kong over the last 12 months, and a Thai company is expected to do the same soon, Chan said, adding HKEX's talks with potential issuers from outside the Greater China region has "gained quite a bit of momentum." The Hong Kong exchange, which is the most preferred venue for Chinese companies looking to raise offshore capital, has been striving to attract IPO hopefuls from elsewhere as part of its ambition to become a global capital raising platform. While that goal has met with limited success so far, Chan's efforts come against the backdrop of increased flows of capital into non-US markets as US President Donald Trump's policies cloud investors' appetite for dollar-denominated assets. A surge in listings and follow-on share offerings by Chinese companies, such as electric vehicle battery giant CATL's raising of US$5.3 billion last month, however, has boosted HKEX's outlook after it reported record high profit in the first quarter. The Hong Kong exchange has emerged as the top destination globally for listings by volume, with a total of 31 companies raising US$10 billion this year, according to LSEG data, with another US$26 billion raised via follow-on share issuances. INVESTOR INTEREST The momentum is set to continue mainly due to a strong list of mainland Chinese firms tapping the Hong Kong market to raise capital for global expansion plans, as Beijing steps up efforts to bolster its private enterprises and revive its economy. More than 20 mainland China-listed companies have applied to raise capital in Hong Kong by issuing shares, while another 20 have announced similar plans, Chan said, hoping to ride bullish investor sentiment. The Hang Seng index is up nearly 19 per cent so far this year. The number of companies in HKEX's IPO pipeline have doubled to more than 160 as of Friday from around 80 in end-December 2024, filing records show. "Amidst all the development in the world, we are now seeing investors again turning their attention to this part of the world when they assess investment opportunities, fundraising venues," Chan said. U.S. investors' demand for shares in recent Hong Kong listings has increased significantly, she said. "That's a good indication that the interest has returned from investors across different markets." Reuters reported last month, citing sources, that online fast fashion retailer Shein was working towards a listing in Hong Kong after its proposed IPO in London failed to secure the green light from Chinese regulators.
The Star
16-06-2025
- Business
- The Star
Hong Kong bourse seeks to woo Southeast Asia, Middle East firms for second listings
HONG KONG: The Hong Kong stock exchange plans to attract listed companies in Southeast Asia and the Middle East, in particular, for second listings in the financial hub, its chief executive said, as the bourse looks to burnish its global credentials. Hong Kong Exchanges and Clearing Ltd (HKEX) also sees a pickup in the number of companies listed in mainland China markets seeking a listing in the city to raise capital for their global expansions, Bonnie Chan said. "We're now more focused on companies which are actually already listed on another market, but might have outgrown their domestic market," said Chan, a former capital markets lawyer, who took over as HKEX's first female CEO last year. "I am now beginning to realize that our sweet spot may not be private companies." As part of those efforts, the Hong Kong stock exchange will soon open a representative office in Riyadh, Chan said, which will allow "even closer connection" with the Saudi exchange, after recent product launches. Three Singaporean firms listed in Hong Kong over the last 12 months, and a Thai company is expected to do the same soon, Chan said, adding HKEX's talks with potential issuers from outside the Greater China region has "gained quite a bit of momentum". The Hong Kong exchange, which is the most preferred venue for Chinese companies looking to raise offshore capital, has been striving to attract IPO hopefuls from elsewhere as part of its ambition to become a global capital raising platform. While that goal has met with limited success so far, Chan's efforts come against the backdrop of increased flows of capital into non-U.S. markets as U.S. President Donald Trump's policies cloud investors' appetite for dollar-denominated assets. A surge in listings and follow-on share offerings by Chinese companies, such as electric vehicle battery giant CATL's raising of $5.3 billion last month, however, has boosted HKEX's outlook after it reported record high profit in the first quarter. The Hong Kong exchange has emerged as the top destination globally for listings by volume, with a total of 31 companies raising $10 billion this year, according to LSEG data, with another $26 billion raised via follow-on share issuances. INVESTOR INTEREST The momentum is set to continue mainly due to a strong list of mainland Chinese firms tapping the Hong Kong market to raise capital for global expansion plans, as Beijing steps up efforts to bolster its private enterprises and revive its economy. More than 20 mainland China-listed companies have applied to raise capital in Hong Kong by issuing shares, while another 20 have announced similar plans, Chan said, hoping to ride bullish investor sentiment. The Hang Seng index is up nearly 19% so far this year. The number of companies in HKEX's IPO pipeline have doubled to more than 160 as of Friday from around 80 in end-December 2024, filing records show. "Amidst all the development in the world, we are now seeing investors again turning their attention to this part of the world when they assess investment opportunities, fundraising venues," Chan said. U.S. investors' demand for shares in recent Hong Kong listings has increased significantly, she said. "That's a good indication that the interest has returned from investors across different markets." Reuters reported last month, citing sources, that online fast fashion retailer Shein was working towards a listing in Hong Kong after its proposed IPO in London failed to secure the green light from Chinese regulators. Chan declined to comment on Shein's Hong Kong listing plans. - Reuters
Straits Times
16-06-2025
- Business
- Straits Times
Hong Kong bourse seeks to woo South-east Asia, Middle East firms for second listings
The Hong Kong exchange has emerged as the top destination globally for listings by volume, with a total of 31 companies raising US$10 billion in 2025. PHOTO: AFP HONG KONG - The Hong Kong stock exchange plans to attract listed companies in South-east Asia and the Middle East, in particular, for second listings in the financial hub, its chief executive said, as the bourse looks to burnish its global credentials. Hong Kong Exchanges and Clearing Ltd (HKEX) also sees a pickup in the number of companies listed in mainland China markets seeking a listing in the city to raise capital for their global expansions, Bonnie Chan said. 'We're now more focused on companies which are actually already listed on another market, but might have outgrown their domestic market,' said Ms Chan, a former capital markets lawyer, who took over as HKEX's first female CEO in 2024. 'I am now beginning to realize that our sweet spot may not be private companies.' As part of those efforts, the Hong Kong stock exchange will soon open a representative office in Riyadh, Ms Chan said, which will allow 'even closer connection' with the Saudi exchange, after recent product launches. Three Singapore companies listed in Hong Kong over the last 12 months, and a Thai company is expected to do the same soon, Ms Chan said, adding HKEX's talks with potential issuers from outside the Greater China region has 'gained quite a bit of momentum'. The Hong Kong exchange, which is the most preferred venue for Chinese companies looking to raise offshore capital, has been striving to attract IPO hopefuls from elsewhere as part of its ambition to become a global capital raising platform. While that goal has met with limited success so far, Ms Chan's efforts come against the backdrop of increased flows of capital into non-US markets as US President Donald Trump's policies cloud investors' appetite for dollar-denominated assets. A surge in listings and follow-on share offerings by Chinese companies, such as electric vehicle battery giant CATL's raising of US$5.3 billion (S$6.8 billion) in May, however, has boosted HKEX's outlook after it reported record high profit in the first quarter. The Hong Kong exchange has emerged as the top destination globally for listings by volume, with a total of 31 companies raising US$10 billion in 2025, according to LSEG data, with another US$26 billion raised via follow-on share issuances. Investor interest The momentum is set to continue mainly due to a strong list of mainland Chinese firms tapping the Hong Kong market to raise capital for global expansion plans, as Beijing steps up efforts to bolster its private enterprises and revive its economy. More than 20 mainland China-listed companies have applied to raise capital in Hong Kong by issuing shares, while another 20 have announced similar plans, Chan said, hoping to ride bullish investor sentiment. The Hang Seng index is up nearly 19 per cent so far this year. The number of companies in HKEX's IPO pipeline have doubled to more than 160 as of June 13 from around 80 in end-December 2024, filing records show. 'Amidst all the development in the world, we are now seeing investors again turning their attention to this part of the world when they assess investment opportunities, fundraising venues,' Ms Chan said. US investors' demand for shares in recent Hong Kong listings has increased significantly, she said. 'That's a good indication that the interest has returned from investors across different markets.' Reuters reported in May, citing sources, that online fast fashion retailer Shein was working towards a listing in Hong Kong after its proposed IPO in London failed to secure the green light from Chinese regulators. Ms Chan declined to comment on Shein's Hong Kong listing plans. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
16-06-2025
- Business
- Business Times
Hong Kong bourse seeks to woo South-east Asia, Middle East firms for second listings
[HONG KONG] The Hong Kong stock exchange plans to attract listed companies in South-east Asia and the Middle East, in particular, for second listings in the financial hub, its chief executive said, as the bourse looks to burnish its global credentials. Hong Kong Exchanges and Clearing Ltd (HKEX) also sees a pickup in the number of companies listed in mainland China markets seeking a listing in the city to raise capital for their global expansions, Bonnie Chan said. 'We're now more focused on companies which are actually already listed on another market, but might have outgrown their domestic market,' said Chan, a former capital markets lawyer, who took over as HKEX's first female CEO last year. 'I am now beginning to realise that our sweet spot may not be private companies.' As part of those efforts, the Hong Kong stock exchange will soon open a representative office in Riyadh, Chan said, which will allow 'even closer connection' with the Saudi exchange, after recent product launches. Three Singaporean firms listed in Hong Kong over the last 12 months, and a Thai company is expected to do the same soon, Chan said, adding HKEX's talks with potential issuers from outside the Greater China region has 'gained quite a bit of momentum'. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The Hong Kong exchange, which is the most preferred venue for Chinese companies looking to raise offshore capital, has been striving to attract IPO hopefuls from elsewhere as part of its ambition to become a global capital raising platform. While that goal has met with limited success so far, Chan's efforts come against the backdrop of increased flows of capital into non-US markets as US President Donald Trump's policies cloud investors' appetite for dollar-denominated assets. A surge in listings and follow-on share offerings by Chinese companies, such as electric vehicle battery giant CATL's raising of US$5.3 billion last month, however, has boosted HKEX's outlook after it reported record high profit in the first quarter. The Hong Kong exchange has emerged as the top destination globally for listings by volume, with a total of 31 companies raising US$10 billion this year, according to LSEG data, with another US$26 billion raised via follow-on share issuances. Investor interest The momentum is set to continue mainly due to a strong list of mainland Chinese firms tapping the Hong Kong market to raise capital for global expansion plans, as Beijing steps up efforts to bolster its private enterprises and revive its economy. More than 20 mainland China-listed companies have applied to raise capital in Hong Kong by issuing shares, while another 20 have announced similar plans, Chan said, hoping to ride bullish investor sentiment. The Hang Seng index is up nearly 19 per cent so far this year. The number of companies in HKEX's IPO pipeline have doubled to more than 160 as of Friday from around 80 in end-December 2024, filing records show. 'Amidst all the development in the world, we are now seeing investors again turning their attention to this part of the world when they assess investment opportunities, fundraising venues,' Chan said. US investors' demand for shares in recent Hong Kong listings has increased significantly, she said. 'That's a good indication that the interest has returned from investors across different markets.' Reuters reported last month, citing sources, that online fast fashion retailer Shein was working towards a listing in Hong Kong after its proposed IPO in London failed to secure the green light from Chinese regulators. Chan declined to comment on Shein's Hong Kong listing plans. REUTERS
CNBC
18-05-2025
- Business
- CNBC
Some Chinese companies eye Singapore listings to expand markets amid trade war
At least five companies from mainland China or Hong Kong are planning IPOs, dual listings, or share placements in Singapore in the next 12 to 18 months, four sources said, as Chinese firms look to expand in Southeast Asia amid global trade tensions. The companies include a Chinese energy company, a Chinese healthcare group, and a Shanghai-based biotech group, said the sources, who have direct knowledge of the matter, but declined to be named or to name the firms as the plans are not finalised. The listings would give a boost to Singapore Exchange Ltd (SGX),which, despite being a popular venue for yield plays such as real estate investment trusts, has been struggling to attract mega listings and bolster trading volumes. SGX hosted just four initial public offerings in 2024, according to its website. That compares with 71 new company listings recorded by its rival regional bourse Hong Kong Exchanges and Clearing Ltd. Chinese companies are looking to tap the Singaporean bourse as they look to enter, or expand business in, Southeast Asia amid a trade war with the United States, Jason Saw, investment banking group head at CGS International Securities, said. U.S. President Donald Trump imposed tariffs of 145% on imports of Chinese goods, and China in turn raised tariffs on U.S. goods to 125%, before the two sides agreed a 90-day pause last weekend. But uncertainty remains, given the time limit and the Trump administration's unpredictability. Enquiries about listings on SGX "shot through the roof" after Trump ramped up his trade actions against China, Saw said. "For the next years and decades, gateways from China to the world are going to be more important," said Pol de Win, senior managing director and head of global sales and origination at SGX. "Singapore is an important gateway, whether it's trade (or) business activity from China to the outside world, and a listing in Singapore is an important component of that." De Win did not mention the listing plans of the Chinese and Hong Kong firms. CGS International, a unit of state-owned brokerage China Galaxy Securities, is working with at least two China-based companies to list on the SGX as early as this year, according to Saw. He declined to name the companies. Some of the mainland Chinese and Hong Kong companies could raise around $100 million via primary listings in Singapore, said one of the sources. SGX is usually not the first choice for Chinese companies eyeing an offshore market debut. Most of them prefer Hong Kong due to Beijing's support and a large pool of institutional and retail investors more familiar with Chinese brands. Beijing's efforts to boost ties with Southeast Asia, amid escalating tension with Washington, have, however, encouraged some Chinese companies to increase their presence in the region, capital market advisers said. The listing plans in Singapore come after the city-state in February announced measures to strengthen its equities market, which included a 20% tax rebate for primary listings, and vowed to unveil a next set of measures in the second half of 2025. The initiatives are set to boost interest in the local IPO market, said Ringo Choi, EY's Asia Pacific IPO Leader, adding that Singapore's "political stability and neutral stance" on geopolitical matters should appeal to companies. Not many, however, see Singapore closing its gap with Hong Kong in equity listings in the near future, due to factors including Singapore's relatively conservative investors and stricter listing requirements. "You need to make it easier for companies, especially technology companies, to list," said the managing director of a Singapore-based multinational software company, who declined to be named as he was not authorised to speak to the media. "Most of the startups in the region are headquartered in Singapore, so this should be the place they list."
