2025 Hong Kong Stock IPO Foreign Institutions List: Morgan Stanley and Livermore rank first among sponsors and underwriters

The Zhitong Finance App learned that according to data from the Hong Kong Stock Exchange, Hong Kong stock IPOs raised more than HK$285.6 billion in capital in 2025, ranking first in the world, a significant increase over 2024. In terms of sponsors, Morgan Stanley ranked first with 13 Hong Kong IPOs sponsored throughout the year. In terms of underwriters, Livermore Securities ranked first in underwriting 32 Hong Kong IPOs throughout the year. In terms of law firms, Gao Weishen ranked first by participating in 24 Hong Kong IPOs throughout the year, and in terms of accounting firms, EY ranked first in participating in 41 Hong Kong stock IPOs throughout the year.