Chinese electronics giant Luxshare Precision Industry is moving forward with a massive secondary listing in Hong Kong, aiming to raise up to $3.1 billion. The deal would be the city's largest IPO so far in 2026.
The company plans to offer 383.5 million H shares. Pricing is expected to be finalized by early July, with trading beginning soon after.
Goldman Sachs and Citic Securities are leading the offering. Roughly 90% of the shares are targeted at international investors.
Luxshare is a critical player in Apple's supply chain, assembling iPhones, AirPods, and other products. Over 70% of its sales come from consumer electronics, with Apple as its primary client.
The move comes amid a broader trend of mainland Chinese companies seeking secondary listings in Hong Kong to access international capital. The investment case acts largely as a proxy bet on Apple's hardware business, though Luxshare faces competition from manufacturers like Foxconn and Pegatron.