Latest news with #LensTechnology
Business Insider
14 hours ago
- Business
- Business Insider
Apple supplier looks to raise up to $606M in HK listing, Bloomberg says
Lens Technology, a supplier to Apple (AAPL), is looking to raise as much as HK$4.8B, or $606M, in a Hong Kong listing, Julia Fioretti of Bloomberg reports. Don't Miss TipRanks' Half Year Sale Take advantage of TipRanks Premium for 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
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Business Standard
15 hours 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.
South China Morning Post
16 hours ago
- Business
- South China Morning Post
Apple supplier Lens Technology joins Hong Kong IPO boom with US$608 million deal
Hong Kong's initial public offering (IPO) boom continued on Monday as seven companies, including Apple supplier Lens Technology and chip designer Fortior, filed fresh listing applications, injecting renewed optimism into the buoyant market Precision manufacturer Lens Technology said it would raise as much as HK$4.77 billion (US$608 million) from its debut in the city, according to its stock exchange filing on Monday. The Shenzhen-listed firm is offering 262.3 million shares at HK$17.38 to HK$18.18 each. Lens Technology planned to allocate 11 per cent of the base offering to Hong Kong investors, with the remainder going to international investors. If the offer size adjustment and overallotment options were exercised, the IPO gross proceeds could swell to HK$6.3 billion at the top end of the price range. Investors can place orders from Monday to July 4, and trading was set to begin on July 9 under the stock code 6613, according to the company's proposed timetable. The company's Shenzhen-listed shares fell 0.3 per cent to 22 yuan (US$3.07) in recent trading. The offering drew cornerstone investors including Green Better, Olympic Country, UBS Asset Management Singapore and Oaktree Capital. They agreed to subscribe for about US$280 million worth of the IPO shares. Citic Securities is the sole IPO sponsor. Founded in 1993 in Shenzhen by chairwoman Chau Kwan Fei, Lens Technology is headquartered in Liuyang in China's central Hunan province, according to its website. Chau was expected to control 59.03 per cent of the company after the listing, according to the prospectus.
Business Times
20 hours 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
Bloomberg
21 hours ago
- Business
- Bloomberg
Apple Supplier Lens Tech Seeks Up to $606 Million in HK Listing
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% to its last close in Shenzhen of 22.06 yuan. Lens Technology expects the shares to start trading in Hong Kong on July 9.
