Frequent occurrence of ‘three or four rounds of financing per year’: Hong Kong’s refinancing scale will surpass IPO for four consecutive years

On December 23rd, in recent years, the Hong Kong refinancing market has injected a large amount of fresh “blood” into the real economy. Data shows that since 2024, the IPO fundraising scale in the Hong Kong market has reached approximately HKD 79 billion, while the refinancing market size (note: excluding convertible bonds) has reached HKD 89 billion. Since 2021, the scale of refinancing in the Hong Kong market is expected to surpass that of the IPO market for four consecutive years. (Securities Times)