The record $4.6 billion Hong Kong IPO of Contemporary Amperex Technology Co.
Limited (CATL), the worlds biggest electrical car (EV) battery maker, has cemented the citys rebound as a worldwide fundraising hub, showcasing the deepening synergy in between Chinas technological innovation and global finance.IPO market rebound from cold wave to worldwide leadershipHong Kongs IPO market has actually staged a remarkable comeback in 2025, with $7.73 billion raised through brand-new listings and secondary offerings, a sixfold increase year-on-year, according to LSEG data.
This resurgence marks Hong Kongs go back to the top of international IPO fundraising rankings, a position it last held in 2021 with Kuaishous $6.2 billion listing.The turn-around follows a two-year decline from 2022 to 2023 when geopolitical stress and regulatory uncertainties drove fundraising volumes into the doldrums.
Yet over the past decade (2014-2024), Hong Kongs IPO market still kept the worlds largest cumulative fundraising total of $303 billion, outmatching the NASDAQ and NYSE, said HKEX Vice President Lu Chenjian throughout a Shenzhen-Hong Kong financial cooperation forum.Tech drives financial renewalCATLs blockbuster listing epitomizes the essential role of Chinese tech champs in renewing Hong Kongs capital markets.
The brand-new energy giants shares surged 16.4 percent on their launching, defying U.S.-China trade stress and its inclusion on a U.S.
Department of Defense blacklist.
Global institutional financiers oversubscribed the deal 15.2 times, while retail demand hit 151 times coverage, signaling robust cravings for Chinas strategic sectors.
This listing implies our larger combination into the international capital market and a new beginning point for us to promote the worldwide zero-carbon economy, said CATL Chairman Robin Zeng at the listing ceremony.
The business prepares to develop a European battery factory serving customers like BMW and Volkswagen, mixing technology transfer with monetary globalization.Policy momentum fuels listing surgeHong Kongs one-upmanship comes from policy support and structural reforms.
In 2024, Chinas securities regulator introduced five procedures to help with the top mainland companies list in Hong Kong, consisting of structured approval procedures and tax incentives.
As an outcome, A-share giants like Midea, Hengrui and Sanhua have sped up Hong Kong listings to gain access to offshore capital for research study and development and abroad expansion.According to Caijing New Media, over 20 A-share business have applied for Hong Kong listings in 2025 alone, including pharmaceutical leader Hengrui and EV element maker Junshan Electronics.(With input from Reuters)