The head of Hong Kong Investment Corporation (HKIC) said up to 10% of investee firms in the HK$62 billion (US$7.94 billion) government-owned investment fund’s portfolio are looking to go public this year.
Established in 2023, HKIC aims to explore investment opportunities in the technology and sustainability sectors. It has invested in over 100 companies in three major sectors: hard and core technology, biotech, and new energy and green technology.
“Their growth rate, effort to secure additional funding, expansion into overseas markets, and initial public offering stages are all ahead of expectations,” Clara Chan, HKIC’s chief executive officer, said at an investment forum in Hong Kong on May 22.
She said around five to ten companies in the fund’s investment portfolio have expressed interest in going public, or have already started preparing for IPOs, and that all of them plan to submit listing applications to the Hong Kong bourse by the end of the year.
“HKIC not only invests capital but also helps companies grow. In addition to aiming for medium to long-term returns, it also hopes to see various companies establish themselves in Hong Kong and go public there,” she added.
According to Chan, HKIC’s leverage ratio is improving. “For every single dollar invested, over four dollars of related funds can be mobilised,” she said. “This highlights our ability to attract [third party] capital.”
