Suzhou Dongshan Precision targets HK$10.67 billion in Hong Kong IPO
Suzhou Dongshan Precision Manufacturing has launched bookbuilding for its Hong Kong listing, aiming to raise up to HK$10.67 billion. The Shenzhen-listed firm is offering 113.8 million H shares at up to HK$93.8 each, with trading expected to begin on October 28. Proceeds will fund new and upgraded pr
Chinese electronics components maker Suzhou Dongshan Precision Manufacturing began bookbuilding for its Hong Kong listing on Tuesday, aiming to raise up to HK$10.67 billion.
The Shenzhen-listed manufacturer of electronic circuit products is offering 113.8 million H shares at up to HK$93.8 each. Investors will need an entry fee of HK$9,474.6 per 100 shares.
Trading of the shares is expected to begin on October 28.
Suzhou Dongshan Precision said proceeds from the offering would be used to build new and upgrade existing production facilities, including expanding high-speed EML chip and optical module manufacturing capacity in mainland China.
Founded in 1998, Suzhou Dongshan Precision is the world's second-largest supplier of flexible printed circuit boards used in smartphones, automobiles and other electronic devices, according to the company's website.