Activity in Hong Kong's new offering market will pick up in the remainder of the year, with 12 initial public offerings set to raise 72.1 billion yuan ($11.77 billion), according to local media.

Assuming all these IPOs proceed, they will make up for some of the action that Hong Kong Exchanges and Clearing Ltd might have lost recently by possibly losing Alibaba Group Holdings' massive offering estimated at more than $75 billion.

The Hong Kong Economic Journal reported on Monday that among the 12 companies are Bank of Chongqing Co Ltd, Huishang Bank Co Ltd, Jingrui Properties Group, Fu Shou Yuan Group and Hong Kong Electric Co.