July 7 (Reuters) – China-headquartered Luxshare Precision Industry said on Tuesday it had priced its Hong Kong listing at the top end of its marketed range, raising about HK$24.27 billion ($3.09 billion).
Here are some of the details:
• The Shenzhen-listed Apple supplier said the offer price was determined at HK$63.28 per H-share, and would sell 383.5 million shares.
• Luxshare wrote in its prospectus that the proceeds would be used to expand manufacturing capacity in automotive and consumer electronics, fund AI-driven factory upgrades, pursue acquisitions, repay debt and support working capital.
• A significant portion of the proceeds will fund expansion of the company’s automotive electronics business, underscoring Luxshare’s push beyond consumer electronics and deeper into the fast-growing intelligent vehicle supply chain.
• The company said it expects to announce the level of investor demand for its international offering, as well as allocation results, on July 8.
• Trading of its shares is expected to begin on the Hong Kong Stock Exchange at 9:00 a.m. local time on July 9.
• Founded by Chinese billionaire Wang Laichun, Luxshare is one of Apple’s largest suppliers and manufactures electronic devices, including routers, wireless charging modules and video conferencing equipment.
($1 = 7.8425 Hong Kong dollars)
(Reporting by Rajasik Mukherjee in Bengaluru; Editing by Ronojoy Mazumdar)
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