Last week, two Chinese companies debuted on the tech-heavy U.S. exchange, and several more are set to join the IPO wave soon. Chinese social commerce company Yunji closed 29% higher than its listing price on Friday, raising $121 million, and So-Young, a Beijing-based online marketplace for plastic surgery services, raised $179.4 million. The latter soared 31.88% on its IPO day and surged another 14% on Friday.
"It seems like we will have over 40 IPOs from China, [which] are coming to the U.S. this year. So  could be the strongest year ever," said Bob McCooey, chairman of Nasdaq Asia-Pacific.
Other notable names, including Futu and Up Fintech, join Yunji and So-Young to amount to 12 Asia-Pacific companies that have listed on the Nasdaq so far this year. In total, those firms have raised $777 million at their debuts — that compares to the $9.6 billion raised by a total of 53 global IPOs on the Nasdaq as of May 3.