Initial Public Offerings (IPOs) continue to play a critical role in helping companies raise capital, expand their market presence, and accelerate growth.
The latest Asia IPO wave highlights how tech giants and fast-growing startups are increasingly turning to public markets to fund expansion, strengthen innovation, and capture new opportunities amid improving investor sentiment.
In 2026, Asian markets are witnessing a notable resurgence in IPO activity, driven by recovering investor sentiment, technological advancements, and strategic expansions across sectors like consumer electronics, robotics, e-commerce, micromobility, AI, and fintech.
Anker Innovations: Powering Consumer Tech with $576M HK IPO
Anker Innovations, a leading consumer electronics brand known for chargers, power banks, and audio devices, has launched its Hong Kong IPO targeting approximately $576 million. Trading is slated to begin on July 2, 2026. The company has built a strong global presence with innovative, reliable products that cater to the growing demand for mobile accessories and smart home solutions.
Founded in 2011, Anker has evolved from a power solutions specialist into a multi-category hardware leader, with strong performance on Amazon and expanding retail channels worldwide. In Q1 2026, it reported revenue of RMB 7.61 billion, marking a 27% year-over-year increase, demonstrating robust demand for its premium products. The dual-listing strategy will broaden its investor base, support global expansion, and accelerate innovation in AI-integrated devices. Investors are likely drawn to its established brand, diversified product lineup, and expansion into premium segments. The listing underscores Hong Kong’s appeal for Chinese tech firms seeking international capital.
Coowa Technology: Robotics Ambitions in Hong Kong
Chinese robotics firm Coowa Technology is preparing to file for a Hong Kong IPO within the next two to three months. Specializing in advanced robotics solutions, Coowa aims to capitalize on the booming automation and AI-driven manufacturing trends across industries.
Backed by SoftBank, the Shanghai-based company recently raised over $600 million in a funding round, pushing its valuation above $3 billion. It generated more than 1 billion yuan (about $148 million) in revenue in 2025 and turned operating-profit positive, with over 10,000 robots deployed across more than 50 cities globally. Huatai Securities and Deutsche Bank are advising on the listing. As labor shortages and efficiency demands rise in China and globally, robotics companies like Coowa are positioned for growth. The Hong Kong listing would provide the capital needed for R&D, production scaling, and international market penetration. This move highlights the sector’s attractiveness amid China’s push for technological self-reliance.
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Zepto: Ambitious $1.3B India IPO Despite Losses
Indian quick-commerce leader Zepto has filed for a massive $1.3 billion IPO, even as it reports significant adjusted EBITDA losses of around $530 million. The company, known for 10-minute deliveries, is betting on its rapid growth and market dominance in India’s competitive grocery and essentials delivery space.
Zepto’s per-order losses have narrowed substantially to about 79 rupees from higher levels, showing improving unit economics amid intense competition with players like Blinkit and Instamart. The IPO includes a fresh issue component to fund network expansion, technology investments, and potential acquisitions, with a target listing between July and September 2026. Despite current losses typical of hyper-growth startups, investors may value its user base, logistics network, and potential in one of the world’s fastest-growing consumer markets. Zepto’s filing signals confidence in future profitability through scale, operational efficiencies, and expansion.
Lingyi iTech: Apple Supplier Eyes $1.1B HK IPO for Diversification
Apple supplier Lingyi iTech (Lingyi) is targeting up to $1.1 billion (HK$8.3 billion) in a Hong Kong IPO, offering 811.8 million shares at up to HK$10.18 each, with a debut expected around June 26, 2026. The Shenzhen-listed electronic components maker, based in Jiangmen, Guangdong, is expanding into AI servers, smart glasses, and robotics.
The company has already assembled or supplied components for thousands of humanoid robots through its joint venture with AgiBot and recently opened a dedicated robotics factory. Cornerstone investors include GF Fund, Sunny Optical Capital, and Honor. Proceeds will support capacity expansion, R&D in high-growth AI hardware, and reduced reliance on traditional smartphone components. Lingyi’s strong ties to Apple provide a stable revenue base, while diversification reduces dependency risks. This listing exemplifies how established suppliers are leveraging public markets to fund next-generation tech amid the AI boom.
Lime: Micromobility Pioneer Plans $200M US IPO with Uber Anchor
Lime, the Uber-backed micromobility company offering e-scooters and bikes, plans a $200 million IPO with Uber as a potential anchor investor. The deal targets a roughly $1.8 billion valuation, with Uber expected to commit a meaningful amount.
Operating in over 230 cities worldwide, Lime reported approximately $887 million in revenue for 2025, reflecting 29% growth, though profitability remains a work in progress. The company continues to invest in vehicle durability, software optimization, and regulatory compliance across urban markets. The IPO, listing on Nasdaq as ‘LIME’ around early July, aims to repay debt and sustain growth in sustainable urban transport. Uber’s involvement strengthens the strategic alliance, highlighting synergies in shared mobility. This move positions Lime to capitalize on the global shift toward eco-friendly last-mile solutions.
Go: Japan’s Taxi App Delivers $553M IPO, Biggest of the Year
Tokyo-based taxi-hailing app Go raised ¥88.6 billion ($553 million) in Japan’s largest IPO of the year. The successful listing underscores robust demand for mobility tech in a market traditionally dominated by traditional taxis but increasingly embracing digital platforms.
Go has transformed the taxi experience through seamless app-based booking, real-time tracking, and partnerships with local operators, capturing significant market share in a competitive landscape. The capital raised will support technology upgrades, driver network expansion, and potential international forays into other Asian markets. Post-IPO, the company is expected to focus on integrating additional mobility services like ride-sharing and delivery integrations. Go’s performance reflects Japan’s steady recovery and interest in domestic tech champions. The capital will likely fund further app enhancements, partnerships, and potential regional expansion, positioning it as a key player in Asia’s evolving transportation landscape.
DSC: Ant-Backed Used-Car Platform Seeks $54M Nasdaq IPO
Ant Group-backed used-car firm DSC is seeking up to $54 million through a Nasdaq IPO, potentially valuing the company at up to $901 million. It plans to sell 3 million American depositary shares priced between $16 and $18.
Leveraging Ant’s extensive fintech ecosystem, DSC provides trusted financing options, data-driven valuations, and streamlined transactions in China’s massive used-vehicle market. The platform addresses key pain points such as information asymmetry and trust issues that have historically hindered the sector’s digitization. Proceeds will enhance its technology stack, expand geographic reach, and strengthen competitive positioning against other digital players. Focused on China’s massive used-vehicle market, DSC benefits from Ant’s fintech ecosystem for financing and trust-building. The listing would provide liquidity and resources for scaling operations, data analytics, and competing in a fragmented but digitizing sector. It represents a more modest but strategic entry for specialized players.
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Enflame: Tencent-Backed AI Chipmaker Secures $888M Shanghai IPO Approval
Tencent-backed AI chip unicorn Enflame has won approval for an $888 million (6 billion yuan) Shanghai IPO, selling 10-15% of its shares. Tencent holds a 20% stake in the company, which has raised over $729 million previously and reached a $2.9 billion valuation.
Enflame’s specialized AI chips have seen strong adoption, with shipments exceeding 80,000 units, powering data centers and enterprise AI applications. The IPO comes amid China’s strategic push for semiconductor self-sufficiency in response to global supply chain challenges. Funds will be directed toward advanced R&D, manufacturing capacity increases, and talent acquisition to maintain technological leadership. Enflame’s chips power AI applications, with shipments exceeding 80,000 units. The IPO approval highlights China’s commitment to domestic semiconductor development amid global tensions. Proceeds will accelerate R&D and production, bolstering national AI capabilities.
Razorpay: Indian Fintech Unicorn Confidentially Files for IPO
Payments platform Razorpay has confidentially filed for an India IPO, targeting $600-700 million at a $5-6 billion valuation. The Bengaluru-based company offers comprehensive payment solutions and has been eyeing profitability.
Razorpay powers payments for thousands of businesses across India, with a growing suite of financial services including lending, banking, and compliance tools. Its core payments business has achieved profitability, providing a solid foundation as it scales newer verticals. The IPO will support further domestic and international expansion, particularly in markets like Singapore. Razorpay’s IPO would mark another milestone for India’s fintech sector, showcasing the maturity of homegrown payment innovators. The Bengaluru-based company offers comprehensive payment solutions and has been eyeing profitability. Razorpay’s core business is profitable, with group-level adjustments for expansions. The IPO would mark a significant milestone for Indian fintech, providing capital for growth while demonstrating maturity in a regulated environment.
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Quantinuum: Honeywell-Backed Quantum Computing Firm Raises $1.7B in US IPO
Honeywell-backed Quantinuum has raised $1.7 billion in a US IPO, with Honeywell retaining significant voting power post-listing (around 48.1%). The quantum computing pioneer is at the forefront of a transformative technology expected to revolutionize industries from pharmaceuticals to finance.
Quantinuum combines advanced hardware with sophisticated software and error-correction techniques, achieving notable breakthroughs in quantum supremacy benchmarks. The company serves early commercial customers in optimization, materials science, and cybersecurity. Post-IPO, it plans accelerated development of scalable quantum systems and broader ecosystem partnerships. Quantinuum’s high valuation and backing reflect immense investor excitement around quantum tech. The funds will support hardware development, error correction advances, and commercial applications, positioning it as a leader in the nascent but high-potential field.
Broader Implications and Outlook
These IPOs collectively signal a vibrant period for Asian innovation. From hardware to software-enabled services and cutting-edge tech, companies are diversifying funding sources beyond venture capital. Challenges persist—many growth firms report losses, valuations are scrutinized, and macroeconomic factors like interest rates and trade relations play a role.
Hong Kong benefits from Chinese firms’ preference for dual listings and international exposure. India’s market rewards scalable consumer plays like Zepto and Razorpay. US Nasdaq attracts global tech with strong narratives, as seen with Lime and DSC. Shanghai supports strategic national champions like Enflame.
Success will depend on execution: delivering profitability, navigating regulations, and adapting to market volatility. For investors, these offerings provide exposure to Asia’s dynamic economy. As more firms prepare listings, the coming months could see sustained activity, potentially encouraging secondary market liquidity and further ecosystem growth.
-2026 is shaping up as a pivotal year for IPOs in Asia. These companies not only seek capital but also validation of their business models in a competitive global arena. Whether powering everyday devices, revolutionizing delivery, or pioneering quantum leaps, they embody the region’s entrepreneurial spirit and technological ambition. The full impact will unfold as they transition to public life, but the momentum is clear.
