Hong Kong Exchanges and Clearing Limited (HKEX)

Hong Kong’s IPO market is set to welcome its largest IPO since 2019, with Zhongji InnoLight expected to debut on HKEX on 30 July. The global offering could raise up to around US$8 billion if the over-allotment option is fully exercised, supported by 33 cornerstone investors committing approximately US$3.45 billion, or nearly half of the base offering at the maximum offer price. Upon its HKEX debut, weekly and monthly stock options are expected to be introduced, and issuers may list derivative warrants on the company’s shares on the same day — broadening the range of tools available to investors from day one. The planned listing reflects the continued strength and depth of Hong Kong’s IPO market, and HKEX’s role in connecting leading companies with global capital while enhancing liquidity, choice and risk management across our markets. Read more: https://lnkd.in/giUn8YG6 #IPO #CapitalMarkets #StockOptions #Warrants

HKEX today published the Consultation Conclusions on proposals to enhance the competitiveness of its listing framework. Following strong market support, the new Listing Rule requirements take effect immediately, introducing changes across weighted voting rights, secondary listings, biotech and specialist technology listing routes, non-public filing arrangements and the enhanced Return Mechanism. Check out the summary of the key enhancements, and read the news release to learn more. https://lnkd.in/gDGqqjQh #Listings #CapitalMarkets #IPO #HongKong

Last month, leaders from across business, technology and finance gathered at #FutureTechSummit in Shenzhen to discuss how AI is reshaping industries and unlocking new opportunities across the economy.   🎥 Watch HKEX CEO Bonnie Y Chan join leaders from Insilico Medicine, Alibaba Cloud and Temasek as they share perspectives on AI adoption, productivity and creativity gains, opportunities across the AI value chain, and the role of capital markets in supporting innovation.   #AI #Innovation #CapitalMarkets #Connectivity

HKEX today welcomed the addition of Bursa Malaysia as a Recognised Stock Exchange (RSE), enabling eligible companies primarily listed on its Main Market to apply for a secondary listing in Hong Kong.    The move is another step in strengthening connectivity between Hong Kong and Southeast Asia, a strategically important growth region for HKEX. Since 2014, more than 100 Southeast Asian companies have listed in Hong Kong, raising US$7.3 billion through IPOs and follow-on offerings, while around 30 Malaysia-related companies already trade on our market.    Building on our collaboration with Bursa Malaysia, we look forward to deepening these ties and broadening access to cross-border opportunities for issuers and investors across Asia.    #Malaysia #SoutheastAsia #CapitalMarkets #Connectivity 

Congratulations to Julie Carruthers on her appointment as Chair of the LME Clear Board. We look forward to supporting LME Clear as it continues to strengthen market infrastructure and support the growth and resilience of global metals markets.

As Swap Connect celebrates its third anniversary, the programme has reached a new milestone, now with over 100 international institutions onboarded. Building on this momentum, the programme will be further strengthened with the addition of 7-Day Fixing Depository-Institutions Repo Rate (FDR007) as a new reference rate for CNY interest rate swaps under Swap Connect. The enhancement will support international investors in managing RMB interest rate risk through Hong Kong, adding depth to Swap Connect’s FIC offering and broadening the range of tools available for participation in the Chinese Mainland’s onshore rates market. Read our Q&A to learn more about Swap Connect’s continued development, from market participation and product innovation to liquidity and what’s next. 🔗 https://lnkd.in/ga5A4TmE #SwapConnect #RMB #FICMarketplace #CapitalMarkets

HKEX welcomes the HKSAR Government’s publication in the Gazette of the Stamp Duty (Amendment) (No. 2) Ordinance 2026, enabling stamp duty arising from dual-counter stock transactions at the RMB counter to be calculated and paid in RMB. To provide a more streamlined payment framework, HKEX will also facilitate the settlement of relevant trading-related fees in RMB. This initiative will broaden access for RMB investors worldwide, strengthen Hong Kong’s market infrastructure and support the growth of HKEX’s RMB product ecosystem. Further details, including operational arrangements and targeted implementation timelines, will be announced in due course. Read more: https://lnkd.in/gcBe5GUB #RMB #CapitalMarkets

HKEX is pleased to welcome the upcoming listing of China Citic Bank International’s US$400 million and CNH1.33 billion dual-tranche Additional Tier 1 (AT1) capital securities, expected to debut on the Exchange on 22 July.   As the bank’s first issuance of dual-tranche AT1 bonds comprising both USD and offshore RMB tranches, the transaction highlights the continued development of Hong Kong's offshore RMB debt market and sustained demand for offshore RMB products.   China CITIC Bank International today celebrated the pricing of the deal at HKEX Connect Hall.   The transaction demonstrates how issuers are using HKEX's debt listing platform to support funding activities and diversify their investor base, while reflecting the growing role of offshore RMB instruments in meeting the evolving needs of issuers and investors.   #HKEXFIC #FixedIncome #BondMarket

Hong Kong’s markets carried strong momentum into the first half of 2026, with robust activity across cash equities, IPOs, Stock Connect and derivatives, reinforcing the city’s role as a leading international financial centre.   Key highlights from H1 2026: 🔹Record cash market average daily turnover (ADT): HK$283.0 billion, up 17.8% YoY; June ADT rose to HK$319.1 billion 🔹IPO funds raised: HK$210.2 billion, up 92.1% YoY (as of June 30, 2026) 🔹Southbound Stock Connect ADT: HK$123.1 billion, up 10.9% YoY 🔹Northbound Stock Connect ADT: RMB345.3 billion, up 101.6% YoY 🔹ETP ADT: HK$48.4 billion, up 31.8% YoY 🔹Futures and options ADV: 1.81 million contracts, up 6.4% YoY 🔹Stock options ADV: 942,162 contracts, up 8.5% YoY   The period also delivered the second-highest first-half IPO fundraising total on record, with 87 listings raising HK$210.2 billion.   As we enter H2 2026, a healthy pipeline of innovative technology companies, international issuers and continued product development provide a solid foundation for future growth. Read the full H1 2026 market update: https://lnkd.in/g7x65anU #HongKongMarkets #StockConnect #CapitalMarkets

Hong Kong's securities market has seen strong results from Phase 1 of the minimum spreads reduction initiative. Compared with the pre-Phase 1 period, bid-ask spreads of impacted stocks have narrowed by 35%, while order execution times have improved by 30%. Building on this momentum, HKEX will launch Phase 2 of the initiative on 3 August 2026 to further enhance the trading experience and support the continued development of Hong Kong's securities market. This initiative is part of HKEX's ongoing efforts to enhance market microstructure, increase trading efficiency and strengthen Hong Kong's competitiveness as an international financial centre. Find out more: https://lnkd.in/gZGRUHvM #CapitalMarkets