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Reuters
19-03-2025
- Business
- Reuters
China's Lens Technology aims for July Hong Kong listing, sources say
HONG KONG, March 19 (Reuters) - Shenzhen-listed Chinese mobile screen maker Lens Technology ( opens new tab is planning to file an application for a Hong Kong listing by the end of this month, aiming to get the offering done in July, said two people with knowledge of the deal. The company, which is one of the suppliers for Apple's (AAPL.O), opens new tab iPhone, has tapped CITIC Securities to sponsor the offering, the two people said, declining to be named as the information is confidential. Bank of America has also been appointed to be the offering's overall coordinator, said one of them. Lens Technology is aiming to raise $1 billion to $1.5 billion in the offering, the person said. The company did not respond to a Reuters request for comment. CITIC Securities and Bank of America declined to comment. The timing and terms of the offering is not set in stone and could change in line with market conditions, the people cautioned. The Chinese protective panels producer for mobile phone displays said on March 12 it planned to issue H shares and to seek a listing on the Hong Kong bourse. The company's shares have gained 18% this year. Lens Technology opened at 26.15 yuan ($3.62) a share on Wednesday, giving it a market cap of around $18 billion, LSEG data showed. The shares were down nearly 1% on Wednesday afternoon at 25.89 yuan each. ($1 = 7.2330 Chinese yuan renminbi)
South China Morning Post
13-03-2025
- Automotive
- South China Morning Post
Apple supplier Lens Technology joins list of Chinese firms planning Hong Kong IPOs
More new share offerings from Chinese firms are headed for the Hong Kong stock exchange , which analysts predict will return to being the world's top initial public offering (IPO) venue this year. Advertisement Lens Technology, Apple 's iPhone glass supplier, said on Thursday that its board approved a plan to list in Hong Kong. It did not disclose details. The Shenzhen-listed firm would join a slew of mainland-listed companies eyeing listings in the city amid improved stock market sentiment and regulatory support. Avatr Technology, the electric vehicle (EV) unit of Shenzhen-listed Changan Automobile , is reportedly considering a US$1 billion Hong Kong IPO. Changan said that while there are plans for Avatr to spin-off for a listing, no specific implementation plans are in place yet, according to mainland media reports. Financial Secretary Paul Chan Mo-po said at a tech forum on Wednesday that Hong Kong IPOs could raise between US$17 billion and US$20 billion this year , in line with forecasts from Deloitte and PwC. Last year, IPO proceeds in the city added up to US$11 billion, ranking fourth globally. The city was the world's top IPO venue seven times between 2009 and 2019. Lens said its Hong Kong listing would 'advance the company's global strategic layout, enhance its international brand image and boost overall competitiveness', according to its filing. Advertisement Huawei , Xiaomi , Tesla , The company has well-known clients in the consumer electronics and smart car industries, including Apple, Samsung BYD and Meta Platforms . Nearly 68 per cent of its total sales derived from overseas in 2023 and 82 per cent in 2022. Founder Zhou Qunfei ranked 26th in Forbes' 2024 list of China's 100 richest people. Her current net worth is estimated at US$12 billion, and her company has a market capitalisation of around 130 billion yuan (US$18 billion).
