Key Takeaways:
LUXSHARE ICT (02475.HK), one of the three giants in Apple's supply chain, launched its Hong Kong IPO on Monday seeking up to HKD24.3 billion in what would be one of the year's largest listings.
The company is offering 383 million H shares, with 10% reserved for Hong Kong retail investors and 90% for international placing. The maximum offer price is set at HKD63.28 per share, with a board lot of 100 shares requiring an entry fee of approximately HKD6,391.82.
The IPO has drawn 26 cornerstone investors who have committed to subscribe for shares worth approximately USD1.5 billion in aggregate. The group includes Singapore's Temasek and GIC, the Abu Dhabi Investment Authority, Tencent Holdings (00700.HK), Eastspring, GF Fund, Jane Street and Fidelity International.
CITIC Securities, Goldman Sachs and CICC are acting as joint sponsors. The offer period runs from June 30 to July 6, with listing expected on the Main Board on July 9. Based on the maximum offer price, net proceeds are estimated at approximately HKD24 billion. The company did not disclose the use of proceeds breakdown, oversubscription ratios or valuation metrics versus peers.
The strong cornerstone lineup, including sovereign wealth funds and a major tech peer, signals institutional confidence in LUXSHARE's position within Apple's supply chain. First-day trading on July 9 will test broader market demand for the dual-listed stock, which already trades on the Shenzhen exchange under ticker 002475.SZ.
This article is for informational purposes only and does not constitute investment advice.
