Hong Kong tops global IPO charts for the first time since 2019 for total funds raised, overtaking New York’s stock exchanges

Hong Kong has reclaimed its spot at the top of global IPO charts for total funds raised—a position it last held in 2019. (This figure reflects the capital injected by investors during an IPO, and represents the difference in a company’s valuation pre- and post-IPO.)

In 2025, global IPO markets raised $158.4 billion across 1,227 deals, reflecting an 18% rise in funds raised, according to an outlook report by consulting firm KPMG. 

The Hong Kong stock exchange (HKEX) led the way...