Luxshare Precision Industry launched a global share offering Tuesday that could raise as much as HK$24.3 billion ($3.1 billion), making it the largest initial public offering in Hong Kong so far in 2026, according to The Wall Street Journal.
The Shenzhen-listed iPhone and AirPods assembler is offering 383.5 million shares at a maximum price of HK$63.28 each
CFOTO / Getty Images
Luxshare Precision Industry launched a global share offering Tuesday that could raise as much as HK$24.3 billion ($3.1 billion), making it the largest initial public offering in Hong Kong so far in 2026, according to The Wall Street Journal.
International investors are set to receive about 90% of the 383.5 million H shares on offer, priced at up to HK$63.28 apiece, with Hong Kong retail buyers taking the rest. Shares are scheduled to start changing hands on July 9, and the offer price is slated to be set no later than July 7.
If completed at the maximum price, the offering would surpass the HK$20.12 billion listing of Victory Giant Technology in April.
According to Frost & Sullivan, Luxshare — an iPhone and AirPods assembler for Apple $AAPL — holds the top spot among precision intelligent manufacturing providers in mainland China and ranks fifth worldwide when measured by 2025 revenue. Revenue rose 24% to 332 billion yuan ($48.9 billion) last year, according to Bloomberg.
While consumer electronics still generated close to 80% of Luxshare's revenue in 2025, the company has been pushing into new segments. Its automotive electronics unit has grown rapidly, climbing to 11.8% of sales from just 3.9% two years prior. The company also manufactures components for communications infrastructure and data centers.
The share of revenue tied to Luxshare's biggest customer — a company widely assumed to be Apple — fell to 57% in 2025, having stood at 75% two years earlier, as Luxshare broadened its business into data centers and automotive electronics.
Commitments totaling $1.5 billion have come from more than two dozen cornerstone investors — a class of backer that locks up its stake for at least six months in return for a guaranteed allocation. Among those investors are Temasek Holdings and GIC of Singapore, Hillhouse Investment, Millennium Management, Tencent Holdings, and Abu Dhabi Investment Authority.
Proceeds from the listing are earmarked for a range of purposes, including building out manufacturing facilities for automotive and consumer-electronics products, advancing research efforts, pursuing investments, settling bank debt, and covering day-to-day operational needs, according to Bloomberg.
Luxshare's listing was one of nine filed in Hong Kong on Tuesday. The combined offerings could raise up to roughly $6 billion. Taken together, the wave of filings means July could surpass every other month this year in Hong Kong IPO proceeds.
Citic Securities, China International Capital Corp., and Goldman Sachs $GS are leading the offering.
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