Hong Kong exchange marks progress in luring more listings from abroad

The Hong Kong stock exchange is drawing a growing number of foreign companies from across Asia and North America that are seeking international capital, as the bourse marks progress in its ambition to be a global magnet for fundraising.

The latest firm seeking to join the cohort is Kazakhstan Temir Zholy, the Central Asian nation’s railway operator and owner of the country’s largest fleet of locomotives and rolling stock, which filed for a Hong Kong listing on June 30, according to bourse operator Hong Kong Exchanges and Clearing (HKEX).

The move comes less than two weeks after Kazakhstan Temir Zholy’s former CEO Talgat Aldybergenov said at a briefing that the company was on track for a triple listing in Hong Kong, London and Kazakhstan by the end of this year.

Hong Kong’s exchange could see an increase in international issuers in the second half of 2026 and in 2027, according to PwC, which said earlier this month that it had received many inquiries from overseas firms. The majority came from Southeast Asia and the Middle East, with consumer goods and services companies among the most active candidates, it said.

Also awaiting approval in HKEX’s swelling listing pipeline are Canada’s Silvercorp Metals and Indonesia’s PT MNC Digital Entertainment.

“Companies looking to list in the second half have relatively shorter windows,” said Perris Lee, head of equity capital markets for Asia-Pacific at Mergermarket. “They need to price and launch when market sentiment is favourable. Stock market sentiment comes and goes because of noises coming from the [artificial intelligence] space.”

Most companies aiming for deals in Hong Kong before the end of 2026 were also likely to strive to get them done before the US midterm elections in early November,” Lee added.