China-headquartered Luxshare Precision Industry said on Tuesday it had priced its Hong Kong listing at the top end of its marketed range, raising about HK$24.27 billion.
Here are some of the details:
- The Shenzhen-listed Apple supplier said the offer price was determined at HK$63.28 per H-share, and would sell 383.5 million shares.
- Luxshare wrote in its prospectus that the proceeds would be used to expand manufacturing capacity in automotive and consumer electronics, fund AI-driven factory upgrades, pursue acquisitions, repay debt and support working capital.
- A significant portion of the proceeds will fund expansion of the company's automotive electronics business, underscoring Luxshare's push beyond consumer electronics and deeper into the fast-growing intelligent vehicle supply chain.
- The company said it expects to announce the level of investor demand for its international offering, as well as allocation results, on July 8.
- Trading of its shares is expected to begin on the Hong Kong Stock Exchange at 9:00 a.m. local time on July 9.
- Founded by Chinese billionaire Wang Laichun, Luxshare is one of Apple's largest suppliers and manufactures electronic devices, including routers, wireless charging modules and video conferencing equipment.
Reuters
