[Record High Hong Kong IPO Fundraising in First Three Quarters of the Past 15 Years] According to Zhitong Finance, in the first three quarters of 2026, the Hong Kong IPO market saw 115 companies go public, with a total fundraising amount of HK$385.566 billion, surpassing the annual fundraising levels of any year since 2011. Looking ahead to the fourth quarter, Deloitte and KPMG have recently stated that the total IPO fundraising amount for Hong Kong this year could approach HK$500 billion. The booming market has also benefited intermediary institutions, with the top three underwriters accounting for a combined 42% of the underwriting scale. However, issues such as resource constraints and the quality of practice among sponsor institutions remain under regulatory scrutiny. On October 13, the Hong Kong Securities and Futures Commission (SFC) stated that current resource constraints have eased, as evidenced by the proportion of listing applications under review by the five most active sponsors dropping from 77% at the beginning of the year to 65% in September, and the number of overburdened principal signatories decreasing by 78%.