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Business Standard
2 days ago
- Business
- Business Standard
Apple supplier Lens Tech seeks up to $606 million in Hong Kong listing
The maker of mobile phone glass covers and other components for consumer electronics is part of a wave of Chinese companies listed on mainland exchanges seeking to sell shares in Hong Kong Bloomberg Lens Technology Co., a supplier to Apple Inc., is seeking to raise as much as HK$4.8 billion ($606 million) in a Hong Kong listing, the latest Chinese company to seek a second trading foothold in the financial hub. The Shenzhen-listed company is selling 262 million shares at HK$17.38 to HK$18.18 each, according to a stock exchange filing on Monday. That represents a discount of as much as 28 per cent to its last close in Shenzhen of 22.06 yuan. Lens Technology expects the shares to start trading in Hong Kong on July 9. Such deals have made up about three quarters of Hong Kong's listing proceeds this year, with more to come as the onshore Chinese market remains constrained for fundraising. Lens Technology plans to use the proceeds from the share sale to expand its product and service portfolio, broaden its overseas presence and production capacity, and advance its vertical integration in smart manufacturing, according to a prospectus for the listing. Lens Technology was among Asian exporters hit by US President Donald Trump's tariff onslaught in April, although its shares rebounded slightly after he initiated a pause on the higher duties. Apple is one of its largest customers, accounting for almost half the Chinese company's revenue in 2024. The Changsha-based company's shares are down about 26 per cent from a February high, giving it a market capitalization of about 110 billion yuan.
Business Times
2 days ago
- Business
- Business Times
Apple supplier Lens Technology seeks up to HK$4.8 billion in Hong Kong listing
[HONG KONG] Lens Technology, a supplier to Apple, is seeking to raise as much as HK$4.8 billion (S$780 million) in a Hong Kong listing, the latest Chinese company to seek a second trading foothold in the financial hub. The Shenzhen-listed company is selling 262 million shares at HK$17.38 to HK$18.18 each, according to a stock exchange filing on Monday (Jun 30). That represents a discount of as much as 28 per cent to its last close in Shenzhen of 22.06 yuan. Lens Technology expects the shares to start trading in Hong Kong on Jul 9. The maker of mobile phone glass covers and other components for consumer electronics is part of a wave of Chinese companies listed on mainland exchanges seeking to sell shares in Hong Kong. Such deals have made up about three-quarters of Hong Kong's listing proceeds this year, with more to come as the onshore Chinese market remains constrained for fundraising. Lens Technology plans to use the proceeds from the share sale to expand its product and service portfolio, broaden its overseas presence and production capacity, and advance its vertical integration in smart manufacturing, according to a prospectus for the listing. Lens Technology was among Asian exporters hit by US President Donald Trump's tariff onslaught in April, although its shares rebounded slightly after he initiated a pause on the higher duties. Apple is one of its largest customers, accounting for almost half of the Chinese company's revenue in 2024. The Changsha-based company's shares are down about 26 per cent from a February high, giving it a market capitalisation of about 110 billion yuan. Citic Securities is the sole sponsor for Lens Technology's listing. BLOOMBERG
Korea Herald
28-05-2025
- Business
- Korea Herald
Xinhua Silk Road: 4th CICEE concludes with fruitful results
BEIJING, May 28, 2025 /PRNewswire/ -- The fourth Changsha International Construction Equipment Exhibition (CICEE) concluded on May 18 in Changsha, capital of central China's Hunan Province. According to the organizer, the event yielded fruitful cooperation outcomes. During the event, overseas buyers have struck tentative deals with over 600 exhibitors and six Changsha-based construction machine enterprises have secured purchase orders worth over 13 billion yuan (about 1.81 billion U.S. dollars). Besides, an agreement on the standards of construction machinery has been signed between Standard and Industrial Research Institute of Malaysia (SIRIM) and China Construction Machinery Test Center, which has laid foundation for a more standardized and highly-efficient trade environment for the two sides. The four-day event has brought together more than 1,800 exhibitors, up 20 percent year on year, including global industry leaders such as Caterpillar and Hitachi Construction Machinery, as well as Chinese construction machinery giants like Sany and Zoomlion. This year's exhibition drew around 350,000 representatives from 110 countries and regions, among which the number of overseas buyers has grew remarkably. It also invited buyer delegations from RCEP partner countries and held six themed international business matchmaking events. Hailing Changsha's role as China's leading machinery manufacturing powerhouse and CICEE's rising global influence, Tsunetaka Mori, Japanese heavyweight Hitachi Construction Machinery's representative in China, said with the rising global demand for intelligent, electric and large-scale construction machinery, Hitachi has accelerated research and development and technological upgrades and continues to introduce cutting-edge solutions to China.
Malaysian Reserve
28-05-2025
- Business
- Malaysian Reserve
Xinhua Silk Road: 4th CICEE concludes with fruitful results
BEIJING, May 28, 2025 /PRNewswire/ — The fourth Changsha International Construction Equipment Exhibition (CICEE) concluded on May 18 in Changsha, capital of central China's Hunan Province. According to the organizer, the event yielded fruitful cooperation outcomes. During the event, overseas buyers have struck tentative deals with over 600 exhibitors and six Changsha-based construction machine enterprises have secured purchase orders worth over 13 billion yuan (about 1.81 billion U.S. dollars). Besides, an agreement on the standards of construction machinery has been signed between Standard and Industrial Research Institute of Malaysia (SIRIM) and China Construction Machinery Test Center, which has laid foundation for a more standardized and highly-efficient trade environment for the two sides. The four-day event has brought together more than 1,800 exhibitors, up 20 percent year on year, including global industry leaders such as Caterpillar and Hitachi Construction Machinery, as well as Chinese construction machinery giants like Sany and Zoomlion. This year's exhibition drew around 350,000 representatives from 110 countries and regions, among which the number of overseas buyers has grew remarkably. It also invited buyer delegations from RCEP partner countries and held six themed international business matchmaking events. Hailing Changsha's role as China's leading machinery manufacturing powerhouse and CICEE's rising global influence, Tsunetaka Mori, Japanese heavyweight Hitachi Construction Machinery's representative in China, said with the rising global demand for intelligent, electric and large-scale construction machinery, Hitachi has accelerated research and development and technological upgrades and continues to introduce cutting-edge solutions to China. Original link:
Yahoo
28-05-2025
- Business
- Yahoo
Xinhua Silk Road: 4th CICEE concludes with fruitful results
BEIJING, May 27, 2025 /PRNewswire/ -- The fourth Changsha International Construction Equipment Exhibition (CICEE) concluded on May 18 in Changsha, capital of central China's Hunan Province. According to the organizer, the event yielded fruitful cooperation outcomes. During the event, overseas buyers have struck tentative deals with over 600 exhibitors and six Changsha-based construction machine enterprises have secured purchase orders worth over 13 billion yuan (about 1.81 billion U.S. dollars). Besides, an agreement on the standards of construction machinery has been signed between Standard and Industrial Research Institute of Malaysia (SIRIM) and China Construction Machinery Test Center, which has laid foundation for a more standardized and highly-efficient trade environment for the two sides. The four-day event has brought together more than 1,800 exhibitors, up 20 percent year on year, including global industry leaders such as Caterpillar and Hitachi Construction Machinery, as well as Chinese construction machinery giants like Sany and Zoomlion. This year's exhibition drew around 350,000 representatives from 110 countries and regions, among which the number of overseas buyers has grew remarkably. It also invited buyer delegations from RCEP partner countries and held six themed international business matchmaking events. Hailing Changsha's role as China's leading machinery manufacturing powerhouse and CICEE's rising global influence, Tsunetaka Mori, Japanese heavyweight Hitachi Construction Machinery's representative in China, said with the rising global demand for intelligent, electric and large-scale construction machinery, Hitachi has accelerated research and development and technological upgrades and continues to introduce cutting-edge solutions to China. Original link: View original content to download multimedia: SOURCE Xinhua Silk Road Sign in to access your portfolio
