Hong Kong's market for initial public offerings (IPOs) looks like it's kicking into gear, just as the year winds down.
China Cinda Asset Management, which raised $2.5 billion in this year's biggest Hong Kong IPO, began trading on Thursday. Jintian Pharma, a Chinese pharmaceutical distributor, and port operator QHD Port also made their trading debuts.
The flurry of year-end listings is a sign of things to come in 2014, say analysts, who expect a busier year for Hong Kong IPOs.
(Read more: Chinese IPOs: Hot, hot, hot!)
"If you look at the pipeline, there are over 100 companies still waiting to come into the Hong Kong market over the next year, so we see a more active IPO market in 2014," said Edmond Chan, partner at PricewaterhouseCoopers in Hong Kong, citing positive signs from U.S. markets as one reason for the improved outlook for IPOs.
Hong Kong has suffered a drop in IPO volumes in the last two years, but deals are starting to pick up and analysts attribute that partly to improved sentiment in global markets as well as towards China, following news last month of plans for sweeping economic reforms.
Cinda Asset Management, China's biggest distressed debt manager, soared over 20 percent when its shares started trading on Thursday.
"The appeal of Cinda is very thematic at the moment, in the sense that you have a slowing China [economy], rising bad debts," Ismael Pili, head of financials research for Asia at Macquarie Securities, told CNBC Asia's "The Call." "On the back of improved sentiment following the Third Plenum, one way to get exposure [to China] is to buy into this new IPO," he added, referring to last month's key meeting of China's leadership.