Four firms to IPO in HK seeking $1.8bn amid AI
Hong Kong's stock market is about to get a big shakeup: four new companies are going public on September 29, aiming to raise a combined $1.8 billion (HK$14.4 billion).
This wave of IPOs is part of a bigger trend, as investors keep pouring money into AI and tech, with more than $45 billion already raised in Hong Kong this year.
RoboTechnik leads IPO quartet with $660m
Leading the charge is RoboTechnik, hoping to raise $660 million by automating solar panel and chip factories (and its shares have soared 168% in Shenzhen).
Right behind is Shenzhen Kinwong Electronic, targeting $650 million thanks to its solid spot in the global circuit board market.
Also joining are Red Avenue New Materials ($382 million) and Direct Drive Tech ($138 million), showing that Hong Kong remains a hot spot for the IPO wave.