- 61% of HKEX IPO funds raised from New Economy listings in past three years
- Hong Kong has become Asia’s largest and the world’s second largest biotech fundraising hub, with 31 pre-revenue biotech companies listings
- 13 new homecoming listings welcomed, raising a total of HK$285.8 billion
Hong Kong Exchanges and Clearing Limited (HKEX) this week celebrates the third anniversary of its New Listing Regime. In 2018, HKEX launched three new chapters in Hong Kong’s listing rules to allow pre-revenue biotech companies, New Economy companies with weighted voting rights (WVR) structures, and qualified overseas listed companies to raise capital in Hong Kong, fuelling a new growth story in Asia’s leading international capital market.
HKEX Interim Chief Executive Calvin Tai said: “We are very pleased to see that the introduction of the new listing regime has helped to transform our markets. HKEX has become the go-to international capital market for New Economy companies, and is already the world’s second-biggest biotech fundraising hub. HKEX will continue to enhance the competitiveness of its markets, whilst maintaining their quality, resilience and attractiveness as a leading global financial centre.”
Since the new rules were introduced, and as at 31 March 2021, 146 New Economy companies have listed in Hong Kong, raising a total of HK$682.2 billion, and accounting for 61% of IPO funds raised in Hong Kong. Among these listings, 31 pre-revenue biotech companies listed under Chapter 18A, raising a total of HK$82.1 billion. HKEX also welcomed 13 “homecoming” secondary listings under Chapter 19C in the same period, raising a total of HK$285.8 billion.
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