Hong Kong equity markets hit a record $47,5 billion in fundraising between July and September 2026. This figure encompasses initial public offerings, share placements, and block trades. The surge in activity pushed the total volume for the first nine months of 2026 to over $92 billion.
Artificial intelligence companies served as the primary catalyst for this growth. Zhipu AI secured $4 billion in a single share placement in July, contributing to a wider wave of $5,8 billion in AI-related financing that week. Earlier in the year, MiniMax Group raised approximately $619 million through an IPO.
Goldman Sachs suggests that total equity issuance for 2026 could exceed the regional record of $112,5 billion established in 2021, provided the fourth quarter maintains this momentum. Notably, some large-scale AI funding rounds were completed without the involvement of traditional Wall Street banks.
