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Suzhou Dongshan Precision Manufacturing, one of the largest printed circuit board makers in China, is seeking to raise up to US$3 billion (HK$23.4 billion) from an initial public offering in Hong Kong, Bloomberg reported on Tuesday.
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The Shenzhen-listed company is targeting between US$2 billion and US$3 billion in fresh funds from the share sale that could take place as early as next month, the news agency said, citing sources.
Discussions are ongoing, and details such as the size and timing of the share offering remain subject to change, the report cited the sources as saying.
The China Securities Regulatory Commission has given a green light for the H share sale plan, the firm said in a filing on Tuesday.
The PCB maker’s shares climbed 1.7 percent on Tuesday, giving it a market value of over 310 billion yuan (HK$363 billion).
Riding on the AI trend, the stock has surged more than 4.5 times since 2025.
It is the world’s largest PCB supplier for edge AI devices, primarily smartphones, PCs, automotive, industrial, and IoT equipment, with a 26.9 percent market share in 2025, according to its prospectus, which cited a report from consultancy CIC.
It is also the third-largest PCB supplier globally by revenue, with a market share of 4.2 percent in 2025, the prospectus showed.
UBS Securities Hong Kong, Haitong International Capital, GF Capital (Hong Kong), and CITIC Securities (Hong Kong) are the joint sponsors for the listing, according to the prospectus.
