| Apple Inc. supplier Luxshare Precision Industry Co. has started taking investor orders for its Hong Kong listing that may fetch as much as HK$24.3 billion ($3.1 billion), the city's biggest share debut so far this year. The Shenzhen-based components manufacturer that's a key assembler of AirPods for the US consumer electronics giant is offering 383.5 million shares at a maximum price of HK$63.28 each, according to a listing document dated Tuesday. That reflects a discount of 16% to Luxshare's 65.30 yuan closing price on Monday in Shenzhen. The company plans to use proceeds from the offering to increase the production capacity in its automotive and consumer-electronics businesses, spend on research and development, invest in certain companies, repay bank borrowings and fund working capital. Cornerstone investors, which get a guaranteed allocation in exchange for holding shares for at least six months, have agreed to buy $1.5 billion worth of Luxshare stock. They include Singapore state-owned investor Temasek Holdings Pte, investment manager Hillhouse Investment, Singapore sovereign wealth fund GIC Pte, Abu Dhabi Investment Authority, technology giant Tencent Holdings Ltd. and investment firm Millennium Management. Shares of the company have risen 88% over the past year, giving Luxshare a market value of $70 billion. The company's revenue rose 24% to 332.3 billion yuan ($48.9 billion) in 2025. Founded in 2004, Luxshare started with making components for consumer electronics before expanding into automotive electronics and communication and data centers. The company says it is seeking market opportunities in industries like artificial-intelligence intelligent terminals, 3D printing, the low-altitude economy and robotics. ALSO READ: OYO-Parent Prism Files Updated Draft Papers: No OFS Planned, Debt Repayment In Focus Citic Securities Co., China International Capital Corp. and Goldman Sachs Group Inc. are leading Luxshare's listing. |
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
