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Dongshan Precision targets up to $3 billion Hong Kong listing after CSRC clearance
The Shenzhen-listed PCB maker won CSRC approval Sep. 29 to issue up to 234M H shares and could launch a US$2-3B Hong Kong listing as early as October.
Why it matters
A $2-3 billion raise would make this one of Hong Kong's biggest listings of the fourth quarter, and it signals that mainland tech manufacturers are still finding ways to tap international capital despite a crowded pipeline of secondary listings.
Full report
Suzhou Dongshan Precision Manufacturing, a Shenzhen-listed maker of printed circuit boards (SZSE: 002384), has cleared the last major regulatory hurdle for a Hong Kong listing. The China Securities Regulatory Commission granted approval on September 29 for the company to issue up to 234,038,600 H shares; the filing is valid for 12 months.
People with knowledge of the matter said the company has also cleared its listing hearing with Hong Kong Exchanges and Clearing and could launch order books as early as October, targeting a raise of US$2 billion to US$3 billion. The transaction still requires final approvals from Hong Kong's Securities and Futures Commission and the Stock Exchange.
The company's products — printed circuit boards, optical transceivers, precision components, touch panels and LCD modules — are used in smartphones, personal computers, automotive systems, industrial equipment and Internet-of-Things devices.
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