04/02/2026
Hong Kong’s IPO engine is firmly back in high gear – but the latest SFC findings are a wake‑up call for everyone involved in listings.
In 2025, Hong Kong reclaimed the top global IPO spot 📈 , raising about HK$272.1 billion across 100 listings – a 210% jump in funds raised versus 2024 and the strongest year since 2022.
The pipeline is even more intense: active IPO applications hit a record 316 by early December 2025, signalling continued momentum into 2026.
At the same time, the SFC has highlighted “serious deficiencies ❌ ” in recent IPO applications – suspending vetting on 16 listings and instructing 13 sponsors to review their procedures, staffing, and resource allocation.
The regulator has gone as far as warning that principals handling six or more active deals may be seen as over‑committed, with potential restrictions on business scope if quality doesn’t improve.
This tension is clear: deal volume is soaring, but traditional manual verification workflows have not scaled to keep pace.
When a single prospectus can contain over 10,000 statements and figures, spread across hundreds of pages and multiple languages, relying on spreadsheets and email threads is no longer sustainable.
𝐓𝐡𝐚𝐭’𝐬 𝐰𝐡𝐲 𝐰𝐞 𝐛𝐮𝐢𝐥𝐭 𝐖𝐢𝐳𝐩𝐫𝐞𝐬𝐬𝐨 𝐅𝐚𝐜𝐭𝐢𝐟𝐲.
Factify is an AI‑powered IPO verification platform that:
✅ Automatically structures every prospectus into verifiable statements and classifies them into facts and opinions.
✅ Cross‑checks factual disclosures against uploaded supporting documents (financials, contracts, expert reports, regulatory filings) and suggests verification citations.
✅ Generates draft verification notes, recommends review scope and priorities, and centralises all collaboration in an audit‑ready environment.
✅ Supports multilingual, scanned, and image‑based documents so teams can work seamlessly with bilingual and unstructured evidence.
✅ Our goal is simple: help sponsors, issuers, and counsel deliver higher‑quality IPO disclosures in less time, even as volumes rise and regulatory scrutiny intensifies.
If you’re leading or supervising IPO work in this new cycle and want to future‑proof your verification process, I’d be happy to share what we’re seeing in the market and how Factify is helping teams adapt.
Watch our Teaser Video: https://www.youtube.com/watch?v=hSNrC1RcLPk
Factify is a transaction due diligence platform streamlining verification workflows for regulated disclosures, including IPO prospectuses, annual and ESG rep...