Hong Kong’s initial public offering (IPO) market has raised more than HK$140 billion (US$17.87 billion) as of April, maintaining its global lead, the city’s financial chief has said, while indicating a renewed push to develop gold trading amid rising demand for risk diversification.

Financial Secretary Paul Chan Mo-po said on Sunday that Hong Kong remained the world’s top IPO fundraising hub as of last week, citing a growing number of high-quality companies using the city’s strong financing...