Luxshare Precision Industry, a China-headquartered manufacturer and major supplier to Apple, announced Tuesday that it has priced its Hong Kong stock listing at the highest point of its advertised range, bringing in roughly HK$24.27 billion — or about $3.09 billion in U.S. currency.
The company, which is already listed on the Shenzhen stock exchange, set its offer price at HK$63.28 per H-share and plans to sell 383.5 million shares in total.
According to its prospectus, Luxshare intends to put the funds raised toward several goals: growing its manufacturing operations in automotive and consumer electronics, upgrading its factories with artificial intelligence technology, making acquisitions, paying down debt, and covering general business expenses.
A notable share of the proceeds will go toward expanding the company’s automotive electronics division — a sign that Luxshare is pushing beyond its traditional consumer electronics roots and positioning itself more firmly within the rapidly expanding intelligent vehicle supply chain.
The company said it anticipates releasing information about investor demand for its international offering, along with allocation results, on July 8. Shares are then expected to begin trading on the Hong Kong Stock Exchange at 9:00 a.m. local time on July 9.
Luxshare was founded by Chinese billionaire Wang Laichun and has grown into one of Apple’s largest manufacturing partners. The company produces a range of electronic products, including routers, wireless charging modules, and video conferencing equipment.
(Exchange rate reference: $1 = 7.8425 Hong Kong dollars)
