Luxshare Precision Industry Co., a Shenzhen-based Apple supplier and electronics manufacturer, plans to raise HK$24.3 billion (US$3.1 billion) in Hong Kong by selling 383.5 million shares at HK$63.28 (US$8.1) each, people familiar with the matter said.

That is about a 13% discount to the company’s Shenzhen closing price of 62.88 yuan (US$9.3) on July 6.

At that size, the deal would become Hong Kong’s biggest offering so far this year, surpassing April’s HK$20.12 billion (US$2.56 billion) listing by Victory Giant Technology Huizhou Co., a printed circuit board maker.

The proceeds are for expanding manufacturing of automotive and consumer electronics products, research, investments, repaying bank debt, and working capital.

Luxshare remains heavily exposed to consumer electronics, which contributed about 80% of the company’s 2025 revenue.

Its biggest customer, widely assumed to be Apple, accounted for 57% of revenue, down from 75% two years earlier.

Its communications and data center unit generated 24.6 billion yuan (US$3.62 billion) in 2025 revenue, up 33.81%, while automotive electronics contributed 11.8% of total sales.

🔗 Source: Bloomberg