Apple supplier Luxshare files for US$1 billion Hong Kong IPO

Apple supplier Luxshare Precision Industry has filed for an initial public offering in Hong Kong, joining a slew of China-listed companies seeking a share sale in the financial hub. 

The AirPods maker was said to have targeted to raise more than US$1 billion (HK$7.8 billion) from the IPO, according to Bloomberg. 

The Shenzhen-listed company’s shares dipped more than 1 percent on Tuesday, giving it a market value of nearly 280 billion yuan (HK$303.9 billion). That compares to a market cap of 128.7 billion yuan of mobile screen maker Lens Technology (6613) that floated in the city last month.