At the June 17 Lujiazui Forum plenary, HKEX CEO Chen Yiting said Hong Kong has recently optimized IPO pricing and allocation mechanisms to increase the bargaining power of influential investors and issuers. He noted issuers — particularly pre-profit or no-revenue companies that cannot be priced by traditional P/E — worry not only about raising funds but about receiving reasonable pricing. Since last year, Hong Kong has shifted allocation ratios more toward institutional investors, giving them gr

At the June 17 Lujiazui Forum plenary, HKEX CEO Chen Yiting said Hong Kong has recently optimized IPO pricing and allocation mechanisms to increase the bargaining power of influential investors and issuers. He noted issuers — particularly pre-profit or no-revenue companies that cannot be priced by traditional P/E — worry not only about raising funds but about receiving reasonable pricing. Since last year, Hong Kong has shifted allocation ratios more toward institutional investors, giving them greater influence in IPO pricing while retail investors have limited say.