More companies, including some from Singapore, eye listings in Hong Kong

In a recent feature by The Straits Times, our Capital Markets leaders Paul She (Hong Kong) and Ooi Chee Keong (Singapore) offer expert perspectives on the contrasting IPO landscapes across Asia—and what’s driving the momentum behind Hong Kong’s resurgence.

Hong Kong has re-emerged as a powerhouse, raising over US$8.4 billion in IPO funds this year alone from 22 listings—with 150 more pending. Its deep investor base, biotech-focused reforms, and strong liquidity are attracting issuers across the region.

Paul She, Partner & Head of Capital Markets, Forvis Mazars in Hong Kong:

"Tighter regulatory conditions in China have also constrained IPO activity there, prompting many firms to consider Hong Kong as a viable alternative."

Meanwhile, Singapore continues to face headwinds, particularly among tech firms discouraged by lower valuation multiples.

Ooi Chee Keong, Partner & Head of Capital Markets, Forvis Mazars in Singapore:

"Supporting local companies is also critical; when domestic firms hesitate to list, it sends a discouraging signal to international issuers."

Read the full article on The Straits Times.