HKEX: 559 Companies Queuing for Hong Kong IPO
N.R. Finch
As of June 30, 559 companies remain in the Hong Kong IPO pipeline — 25 approved and awaiting debut, 534 still under review. The backlog signals sustained supply pressure on new listings in H2, with the pace hinging on approval speed and whether the market window stays open.
559 in the queue — what does that number really mean?
25 applications have been approved by the Listing Committee and await formal listing; 534 are still being processed — a combined 559.
This means → Hong Kong's IPO pipeline remains at an elevated level; the backlog has not cleared.
In plain terms = there is still a long line of companies wanting to list in Hong Kong, and H2 will see no shortage of new-share supply.
How did H1 new listings stack up?
In the first six months of 2026, 87 new stocks debuted — 86 on the Main Board, just 1 on GEM.
Total listed companies on HKEX reached 2,748 as of the report date — 2,443 Main Board, 305 GEM.
This reflects the Main Board's overwhelming dominance; GEM's appeal as a fundraising venue remains weak.
How long does approval take — can queuing companies afford to wait?
June data: median 15 business days to issue a first comment letter, 20 business days for a second, and 15 business days for the hearing document letter.
From acceptance to hearing-document letter, HKEX's total median comment-letter turnaround was 36 business days.
In plain terms = the HKEX leg of the review process takes roughly a month and a half at the median — a steady pace.
Delistings and suspensions — who is being cleared out?
25 companies were delisted in H1: 8 voluntary withdrawals, 15 compulsory delistings, 2 transfer-related delistings.
87 listed companies have been suspended for three months or more — 75 Main Board, 12 GEM; of those, 5 Main Board names have already been approved for delisting.
This means → HKEX is managing both the "in" door and the "out" door; compulsory delistings dominate, signaling continued regulatory cleanup of shell and zombie stocks.
Content is for reference only, not financial advice.