"Africa Phone King" Shenzhen Transsion has passed the Hong Kong listing hearing, eyeing up to US$500 million (HK$3.9 billion).
The biggest phone seller in Africa plans to hold a listing roadshow next week, seeking to raise US$400 million to US$500 million in Hong Kong's share sales, International Financing Review reported earlier.
The company won Beijing's green light for going public in the city last month and will issue no more than 132 million shares in the listing, according to a statement from the China Securities Regulatory Commission.
Transsion's Shanghai-listed shares have dropped nearly 19 percent year-to-date, with a market value of about 63.2 billion yuan (HK$73.86 billion).
Founded in 2013, the firm owns three major smartphone brands, including Tecno, Infinix, and itel. It ranked first in the African market with a market share of 53.1 percent in 2025 in terms of revenue, far ahead of the second player's 19.2 percent, according to Frost & Sullivan.
For the first four months of 2026, Transsion's net profit jumped 121.6 percent year-on-year to 1.36 billion yuan, while its revenue rose 30 percent during the period.
Citic Securities is the sole sale sponsor.
Net proceeds from the listing are planned to be used for research and developement of artificial intelligence-related technologies, marketing and brand-building, the enhancement of mobile Internet services, Internet of Things products, and others, according to the prospectus.
