(Bloomberg) -- Hong Kong’s biggest share sale in more than three years is fueling hopes China’s dormant billionaire deal pipeline may come back to life.

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Shares of home appliance-maker Midea Group Co., which is also listed in Shenzhen, rose 17% after just two sessions in Hong Kong, following a $4 billion offering that was the largest in the city since early 2021. Its founder and largest shareholder He Xiangjian, 82, is China’s sixth-richest person, with a fortune estimated at $30.5 billion, according to the Bloomberg Billionaires Index.

While it’s far from certain the deal will revive the city’s long-suffering market for initial public offerings, which cratered over the past years on the back of China’s economic slowdown, the successful listing brings some optimism. Midea, which makes fridges and washers, ranks among China’s better-known bluechip names globally, last year announcing Manchester City striker Erling Haaland as its global brand ambassador.

“There are some potential pipeline cases to bring Hong Kong back to the top five of world IPO fund raising,” said Andy Wong, IPO leader at advisory firm SW Hong Kong. Momentum “still needs time to improve and depends on whether there are attractive issuers in the remaining few months in 2024,” he said.

Here’s a list of firms that have been weighing a Hong Kong listing, some of which are already listed in mainland China.

SF Holding

China’s largest express delivery company, founded in 1993 by billionaire Wang Wei, is waiting for approvals by the local regulator and the exchange for a share sale in Hong Kong. Last year the Shenzhen-listed firm picked banks for a second listing that was set to raise as much as $3 billion, Bloomberg News reported in May 2023. Wang grew up in Hong Kong and is worth $9.2 billion, according to the Bloomberg Billionaires Index, with the bulk of his fortune deriving from his stake in the company.

Mixue

The ice cream and tea chain company, founded in 1997 by brothers Zhang Hongchao and Zhang Hongfu in China’s Henan province, had initially filed for a Hong Kong IPO in January, but the share sale did not materialize. In 2020 it received a cash infusion from investors including the venture arm of Chinese food delivery giant Meituan. The two founding brothers had a combined net worth of $3 billion as of April, according to the Bloomberg Billionaires Index.