Luxshare Precision launches $3.1 billion Hong Kong IPO

Luxshare Precision Industry launched a planetary stock offering Tuesday that could rise arsenic overmuch arsenic HK$24.3 cardinal ($3.1 billion), making it the largest archetypal nationalist offering successful Hong Kong truthful acold successful 2026, according to The Wall Street Journal.

International investors are acceptable to person astir 90% of the 383.5 cardinal H shares connected offer, priced astatine up to HK$63.28 apiece, with Hong Kong retail buyers taking the rest. Shares are scheduled to commencement changing hands connected July 9, and the connection terms is slated to beryllium acceptable nary aboriginal than July 7.

If completed astatine the maximum price, the offering would surpass the HK$20.12 cardinal listing of Victory Giant Technology successful April.

According to Frost & Sullivan, Luxshare — an iPhone and AirPods assembler for Apple — holds the apical spot among precision intelligent manufacturing providers successful mainland China and ranks 5th worldwide erstwhile measured by 2025 revenue. Revenue roseate 24% to 332 cardinal yuan ($48.9 billion) past year, according to Bloomberg.

While user electronics inactive generated adjacent to 80% of Luxshare's gross successful 2025, the institution has been pushing into caller segments. Its automotive electronics portion has grown rapidly, climbing to 11.8% of income from conscionable 3.9% 2 years prior. The institution besides manufactures components for communications infrastructure and information centers.

The stock of gross tied to Luxshare's biggest lawsuit — a institution wide assumed to beryllium Apple — fell to 57% successful 2025, having stood astatine 75% 2 years earlier, arsenic Luxshare broadened its concern into information centers and automotive electronics.

Commitments totaling $1.5 cardinal person travel from much than 2 twelve cornerstone investors — a people of backer that locks up its involvement for astatine slightest six months successful instrumentality for a guaranteed allocation. Among those investors are Temasek Holdings and GIC of Singapore, Hillhouse Investment, Millennium Management, Tencent Holdings, and Abu Dhabi Investment Authority.

Proceeds from the listing are earmarked for a scope of purposes, including gathering retired manufacturing facilities for automotive and consumer-electronics products, advancing probe efforts, pursuing investments, settling slope debt, and covering day-to-day operational needs, according to Bloomberg.

Luxshare's listing was 1 of 9 filed successful Hong Kong connected Tuesday. The combined offerings could rise up to astir $6 billion. Taken together, the question of filings means July could surpass each different period this twelvemonth successful Hong Kong IPO proceeds.

Citic Securities, China International Capital Corp., and Goldman Sachs are starring the offering.