Chaozhou Three-Circle Group aims to raise up to $1 billion in a Hong Kong listing, according to Reuters, citing two unnamed sources familiar with the matter.
Regulatory clearance from the China Securities Regulatory Commission is still pending for the Shenzhen-listed maker of small ceramic components found in smartphones, automobiles, data centers, and telecommunications gear. Once approval comes through, the transaction could get underway quickly, with June-end cited as a possible earliest timeline, the sources said. China Galaxy International is the sole sponsor of the transaction.