Four Chinese companies are preparing to raise a total of HK$14.4 billion ($1.8 billion) through listings in Hong Kong, with all four expected to begin trading on September 29, 2026. This move comes as Hong Kong's market for first-time listings is experiencing a strong year, fueled by investments linked to artificial intelligence.
RoboTechnik Intelligent Technology Co. is leading this group, aiming to raise as much as $660 million. The company, which manufactures equipment and software for automating production in solar-panel and silicon-photonics chip factories, has seen its Shenzhen-listed shares surge by 168% this year. RoboTechnik is offering 11.9 million H shares at a maximum price of HK$436 per H share, representing a 40% discount from its Shenzhen closing price on Friday. The offering also includes an upsize option of up to 15% of the base offering, which could bring its total deal size to HK$6.85 billion if fully exercised.
Other companies joining this listing spree include Shenzhen Kinwong Electronic Co., a printed circuit-board manufacturer with a 2.5% global market share, seeking up to $650 million. Chemical products maker Red Avenue New Materials Group Co. is targeting as much as $382 million, and precision motor solutions provider Direct Drive Tech Ltd. is looking to raise $138 million. These listings are proceeding despite signs of a cooling market, where only one out of six new listings in September has shown gains.
Hong Kong's market for IPOs and secondary listings has seen significant activity this year, with deals raising approximately $45 billion so far, compared to $24 billion during the same period last year. Notable deals earlier in the year included Alibaba Group Holding Ltd.'s $10 billion follow-on offering and Z.AI Co.'s $5 billion stock-and-convertible sale, underscoring the demand for AI-related investments.
