Driven by a surge of enthusiasm among Chinese mainland companies seeking to go public in Hong Kong, about 250 firms are currently waiting in line to list on the city’s Stock Exchange.

Data from the Hong Kong Stock Exchange show approximately 240 companies are waiting to be listed on the main board. Among these, nine have received approval for listing, while 231 are still in the listing process. Meanwhile, 10 companies are waiting to be listed on the Growth Enterprise Market.

The number of companies seeking IPOs is expected to grow as Hong Kong earlier this year offered a confidential-filing option for technology and biotechnology companies listing on the main board.

READ MORE: Hong Kong regaining status as premier IPO market

Quicktron Robotics, an Alibaba-backed robotics-maker, is one of the firms that has confidentially filed for a listing, according to a local media report. The potential IPO is estimated to raise at least HK$100 billion ($12.8 billion) next year.

The company, established in 2014, provides customers with mobile robot swarms and intelligent operating systems.

PwC Hong Kong Capital Markets Services Partner Diamantina Leong said, “Despite ongoing uncertainties, such as geopolitical tensions and trade tariffs, the high level of liquidity in Hong Kong’s banking system is creating favorable conditions for corporate listings and fundraising.

“As capital continues to flow in, Hong Kong’s IPO market is showing strong growth momentum, becoming a vital platform for Chinese enterprises to expand and raise funds. With supportive policies and ample liquidity, we expect 2025 to be the most active fundraising year for IPOs in the past four years,” Leong said.

In the first eight months of 2025, Hong Kong continued to lead the global IPO financing list. The cumulative funds raised reached HK$133.3 billion, reflecting a year-on-year increase of 573 percent, matching the total raised in 2023 and 2024, according to the local bourse. Additionally, 56 new stocks were listed on the Hong Kong stock market, marking an increase of over 30 percent compared to the previous year.

On Monday, Dahon Tech (Shenzhen), the largest folding-bicycle company on the Chinese mainland, kicked off its Hong Kong IPO on Monday, aiming to issue 7.92 million shares to raise about HK$392 million.

Xgimi Technology, a manufacturer of multifunctional smart projectors and laser TVs on the Chinese mainland, announced on Tuesday its plans to apply for a listing on the Main Board of the Hong Kong Stock Exchange.

"National support for and emphasis on developing the technology and innovative sectors will encourage new quality productive forces such as technology and new energy companies to raise funds in the capital market and enter the market spotlight in the second half of 2025,” said Tony Huang, national A-Share offering leader of capital market services group Deloitte China.

READ MORE: HK tops global IPO rankings with 42 new listings in H1

The city’s regulators have also launched a series measures to bolster the IPO market, especially to attract technology firms to list in the financial hub.

“These measures offer early and tailored guidance to many technology companies, helping potential listing applicants navigate regulatory requirements with greater clarity and confidence,” said Irene Chu, partner and head of new economy and life sciences of Hong Kong SAR, KPMG China. “These initiatives demonstrate Hong Kong’s strong commitment to establishing itself as a leading fundraising platform for early-stage innovators,” she said.

“Hong Kong’s capital markets have significantly diversified in recent years, with numerous high-tech and biotech companies choosing to list here, becoming key pillars of growth for the city’s IPO market,” Chu added.

Contact the writer at thor_wu@chinadailyhk.com