Chinese tech manufacturers rush to list in Hong Kong, seeking nearly $6 billion

Five Chinese technology and advanced manufacturing companies launched Hong Kong listings on Tuesday to raise up to HK$44.1 billion ($5.6 billion), one of the busiest days for new share sales this year, according to their company filings.

The biggest of the five offerings is Shenzhen-listed Apple supplier Luxshare Precision ‌Industry, looking ⁠to raise up ⁠to HK$24.27 billion ($3.15 billion) after contemplating a Hong Kong listing for more than a year.

The rush of new deals announced on Tuesday adds to a run of Chinese companies turning to Hong Kong for fresh capital as Beijing encourages more domestic champions to list close to home.


There has been $22.45 billion worth of new listings in ​Hong Kong in the first half, up nearly ⁠57% from ‌a year earlier, making it the busiest start to the ​year in ​five years, according to LSEG data.

Luxshare is selling 383.5 million ⁠shares at a maximum offer price of HK$63.28 apiece, according ​to its prospectus. The final price will be set ​on July 8, with trading set to commence the following day. The company manufactures electronic devices, including routers, wireless charging modules and video conferencing equipment.

Chaozhou Three-Circle, which makes electronic ceramic materials and parts used in electronics, cars and chip equipment, is seeking up to about HK$7.16 billion, according to its prospectus.

Nexchip Semiconductor, ‌which manufactures chips designed by other companies, said it would seek up to HK$6.98 billion.

Guangdong Dtech Technology, a maker of ​tiny drill ​bits and other tools used ⁠to produce printed circuit boards, is aiming to raise up to HK$4.80 billion, its filings showed.

Rokae (Shandong) Robotics Group, the smallest of the five deals, said it ​would sell 23 million shares at HK$38 each to raise about HK$875 million. The company makes industrial robots, collaborative robots that can work near people and newer AI-linked robots. ($1 = 7.8413 Hong Kong dollars)