Hong Kong’s IPO market made a strong comeback in 2024, marked by the stellar debut of Mao Geping Cosmetics, whose shares surged 77% on their first trading day, the best performance in four years. With 63 listings raising HK$83 billion ($10.6 billion), an 80% increase from 2023, the Hong Kong Stock Exchange reclaimed its fourth-place global ranking. This rebound was driven by major IPOs like Midea Group, bolstered by favorable policies, improved market sentiment, and mainland regulatory support. The introduction of new listing pathways, including Chapter 18C for specialist tech firms, and streamlined procedures, further attracted mainland companies, many of which seek to leverage Hong Kong as a platform for global expansion. Key upcoming IPOs include JD.com’s Jingdong Industrials and Lalatech Holdings.