From semiconductors to artificial intelligence and robotics, more mainland Chinese technology firms plan to list in Hong Kong, which would serve as their launch pad to expand overseas and transform into global businesses.
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Some of the mainland firms currently looking to list in the city include China Micro Semicon (Shenzhen), Suzhou Dongshan Precision Manufacturing and Mech-Mind Robotics Technologies.
The increased interest from mainland tech firms to list in Hong Kong reflects how the city regained its status as the world’s largest market for initial public offerings (IPOs) this year.
“The Hong Kong market has had a strong rally this year, with international investors chasing mainland technology companies, particularly semiconductor, AI and robotics companies,” said Tom Chan Pak-lam, permanent honorary president of the Institute of Securities Dealers, an industry body for brokers.
“This trend will continue as Hong Kong is an international financial centre and a connector between China and the world,” he said. “It is natural for mainland technology companies to use Hong Kong as a platform to go global.”
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As of Friday, some 60 companies had collectively raised US$18.5 billion in Hong Kong, a 158 per cent increase from the previous year.