As of 30 September 2025, the global market saw 930 IPOs, raising a total of US$111.6 billion, representing YoY growth of 3% and 32% each, KPMG released its Chinese Mainland and Hong Kong IPO Markets 3Q25 Review Report saying.

Of which, Hong Kong recorded 67 completed IPOs in 9M25 in total, with a fundraising amount of $182.9 billion, marking a YoY increase of 49% and 229%. Currently, Hong Kong claimed the top spot globally in terms of funds raised.

As at the end of September, the Hong Kong market recorded nearly 300 active IPO applications, hitting a historical new high, with A+H and Chapter 18C listings thriving. KPMG predicted that Hong Kong is likely to reclaim the top spot in global IPO fundraising this year.