HKIC CEO says over 30 portfolio firms plan to apply for HK listing this year
Hong Kong Investment Corporation CEO says over 30 portfolio firms plan to apply for a Hong Kong listing by year-end. HKIC has invested in over 200 projects, with 11 already listed. It also plans a cross-regional innovation platform with top universities.
The chief executive of the Hong Kong Investment Corporation (HKIC), Chan Ka-chai, has said that more than 30 of the corporation’s portfolio companies plan to submit applications for a listing in Hong Kong within the remainder of this year.
In a radio programme on 4 October, Chan said HKIC has a dual mission to “use capital to attract capital, talent to gather talent, and ecosystem to nurture ecosystem”. She said that for every Hong Kong dollar HKIC invests, it attracts more than HK$8 in long-term follow-up funding. As of the end of last year, the net internal rate of return on the corporation’s investment portfolio stood at 14 per cent.
Chan said HKIC has invested in more than 200 projects to date, and 11 of its portfolio companies have already been listed in Hong Kong. She noted that more than 30 companies in which it has invested are planning to file for a Hong Kong listing in the remaining months of this year.
To support young people, Chan said HKIC will set up a cross-regional innovation platform in collaboration with various universities. The platform will involve top universities from Hong Kong, mainland China, Europe and the Americas.
Chan said that apart from acting as a lead investor, enabler and accelerator, HKIC will also serve as a pioneer in thinking about how to better support the development of the Northern Territory and the Greater Bay Area, as well as frontier fields such as commercial aerospace.