Four deals launch post holiday
Zhaowei leads with HK$1.97 billion offer
Estun eyes up to HK$1.65 billion
Debuts scheduled March 9 to 10
Singapore, Malaysia add momentum with large IPOs
By Yantoultra Ngui and Shivangi Lahiri
Feb 27 (Reuters) - Hong Kong’s new-listing pipeline sprang back to life after the Lunar New Year break, with four offerings launched on Friday morning seeking as much as HK$4.9 billion ($626 million) in total based on exchange filings.
The burst of launches extends a brisk start to 2026. Hong Kong logged its strongest start to a year since 2021, with IPOs and second listings raising about $5.5 billion in January, the most since $7.6 billion in January 2021, LSEG data showed earlier in February.
“We expect the positive momentum to continue across the year, on the back of strong liquidity and healthy investor risk appetite that have persisted since last year,” said Art Karoonyavanich, DBS managing director and global head of equity capital markets.
“As more supply comes to market, investors will increasingly become more selective, focusing on quality deals,” he said, adding that issuers in technology, advanced manufacturing, infrastructure, consumer-related and biotech will continue to be drivers of activity.
Shenzhen Zhaowei Machinery &amp; Electronics (003021.SZ) , which describes itself as China’s largest integrated micro-drive and actuation systems provider by 2024 revenue, led the pack.
The company is seeking to raise up to HK$1.97 billion by offering 26.7 million H shares at a maximum price of HK$73.68 each. Proceeds will be used for business expansion and technology development, according to its filing.
Separately, industrial robot maker Estun Automation (002747.SZ) is looking to raise as much as HK$1.65 billion by offering 96.8 million H shares at up to HK$17.00 apiece.
The company said funds would support manufacturing capacity, research, development, and overseas growth initiatives.
Also in the pack is MeiG Smart Technology (002881.SZ) , which aims to raise up to HK$1.01 billion by offering 35 million H-shares at a maximum price of HK$28.86.
The Shenzhen-based firm provides wireless communication modules and smart internet of things or IoT terminals. Proceeds are earmarked for product development, supply chain optimisation and working capital needs, its filing showed.
Reusable-packaging service provider Alsco Pooling Service is seeking up to HK$285 million by offering 20.3 million shares at a cap price of HK$14.00 each, its filing showed.
Funds will go toward network expansion, technology upgrades and general corporate purposes.
Their scheduled debuts are March 9 for Zhaowei, Estun and Alsco, and March 10 for MeiG, according to the respective filings.
Elsewhere in Asia, Singapore saw the initial public offering launch of UI Boustead REIT (IPO-UIBO.SI) , which is seeking to raise up to S$1.0 billion ($792 million), the city-state’s biggest REIT listing since NTT DC REIT’s $773 million offering in July 2025.
And in Malaysia, Sunway Healthcare Holdings (IPO-SUNA.KL) launched its 2.86 billion ringgit ($736 million) IPO, the country’s biggest listing in nine years since Lotte Chemical Titan’s (LOTT.KL) offering in 2017.
($1 = 7.8232 Hong Kong dollars) ($1 = 1.2629 Singapore dollars) ($1 = 3.8830 ringgit)

Four Hong Kong listings seek $626 million as market revives after Lunar New Year