Asia and Gulf IPOs: Hong Kong to Tadawul — 2026-09-08
Hong Kong's IPO market continues its robust rebound with Shenzhen Longsys Electronics debuting flat after a $903 million raise, while the pipeline swells with high-profile AI and tech filings including Moonshot AI. In India, the grey market for the massive NSE IPO heats up ahead of its launch, signaling strong investor appetite despite regulatory scrutiny on Offer-for-Sale mechanisms. Meanwhile, South Korea's KRX sees a surge in institutional demand prediction activities for robotics and semiconductor firms, and Singapore's SGX highlights a shift toward value-focused listings.
Asia and Gulf IPOs: Hong Kong to Tadawul — 2026-09-08
Top developments
Hong Kong: Shenzhen Longsys debut and HKEX momentum
Shenzhen Longsys Electronics made its debut on the Hong Kong Stock Exchange, trading flat following a $903 million initial public offering. This listing underscores the continued dominance of hardware and semiconductor firms in the region's equity capital markets. HKEX CEO Bonnie Chan noted that the IPO boom is extending beyond technology into biotechnology, mining, and consumer sectors, with fundraising topping $40 billion in recent periods. The market remains buoyant, with 103 new IPOs listed in 2026 so far, raising approximately HK$334.27 billion.
India: NSE IPO grey market heats up; OFS concerns rise
The National Stock Exchange of India (NSE) received SEBI approval for its ₹30,000 crore IPO, with grey market premiums (GMP) reaching ₹285 per share ahead of the launch. This strong pre-listing demand reflects high investor interest in exchange listings. However, local media highlights growing concerns over the increasing prominence of Offer-for-Sale (OFS) components in Indian IPOs, which may dilute fresh capital infusion for companies. Mainboard issues raised nearly ₹55,500 crore in July and August alone, indicating a significant recovery from a slow first half.
China: Moonshot AI files confidentially for HK listing
Chinese AI startup Moonshot AI (developer of Kimi) has reportedly filed confidentially for a Hong Kong IPO, aiming to raise between $3 billion and $5 billion. The filing, submitted to the HKEX this week, is rumored to value the company at approximately $50 billion pre-money. If successful, this would be one of the largest tech listings in Hong Kong's recent history, further cementing the city's status as a hub for Chinese tech giants seeking global capital.
Singapore: SGX focuses on value over volume
Singapore Exchange (SGX) is experiencing a rebound in IPO activity, characterized by analysts as prioritizing "value over volume" compared to the high-volume boom in Hong Kong. The first half of 2026 saw a bumper crop of listings, and the trend is expected to continue if market conditions hold. This strategy aims to attract higher-quality issuers rather than competing solely on listing speed or sheer number of deals.
Local view
India: Hindi-language financial media such as Moneycontrol Hindi and Hindustan are closely tracking the grey market premiums for upcoming issues like NSE and Pranav Constructions. The Hindu reports that while the IPO window is open, stakeholders are wary of the widening "OFS door," which allows existing shareholders to cash out rather than injecting new capital into businesses.
South Korea: Local outlets like Asia Economy and Seoul Economic Daily note that the KRX IPO market is busy with institutional demand predictions for companies like Deuksan Nepcore and Big Wave Robotics. There is a specific focus on "tech wars" among AI, robotics, and semiconductor component suppliers, with investors scrutinizing lock-up expiries and post-listing volatility for newly listed stocks. Bloter highlights that institutional selling immediately after listing remains a concern for price stability.
Hong Kong: Chinese-language media including Phoenix Finance (Ifeng) reports on the weekly IPO cadence, noting that 17 companies filed prospectuses in late August. Sing Tao Headlines covers the Moonshot AI rumors extensively, citing sources close to the deal regarding the $50 billion valuation target.
Context & numbers
- Hong Kong Fundraising: HKEX raised HK$209.9 billion across 85 new listings in the first half of 2026.
- India Mainboard Issues: Mainboard IPOs raised nearly ₹55,500 crore in July and August 2026.
- NSE IPO Size: The NSE IPO targets a raise of ₹30,000 crore ($3.6 billion approx).
- Moonshot AI Target: Confidential filing aims for $3–5 billion raise at ~$50 billion valuation.
- KRX Activity: 7 companies are conducting institutional demand predictions in the second week of September.
On the radar
- India IPO Calendar: 15 IPOs are scheduled to open between September 7 and 15, including 11 mainboard and 4 SME issues. Key names include Kanohar Electricals (GMP ~₹190) and Glass Wall Systems (Anchor round raised ₹128.36 crore).
- Korean Demand Predictions: Institutional demand prediction results for Global Technology, Big Wave Robotics, and Deuksan Nepcore are due this week, setting the stage for retail subscriptions.
- HKEX Pipeline: Watch for the next batch of prospectus filings following the 17 submissions seen in late August, particularly in the biotech and consumer sectors mentioned by HKEX leadership.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
Powered by
