Overview
- Huaqin, a Shanghai-listed electronics maker, launched a global offering in Hong Kong to raise up to HK$4.55 billion by selling about 58.5 million shares at a top price of HK$77.70.
- Roughly 10% of the shares are reserved for retail buyers, with the rest for international investors, and JPMorgan and UBS are leading the deal.
- The price cap sits about 31.2% below the company’s A-share close of 98.30 yuan, a level that is common for cross-listings and could draw overseas demand.
- The company said it will set the final offer price before trading begins in Hong Kong, where the stock will list under code 3296.
- Prospectus data show Huaqin held a 22.5% global ODM share in 2024 and leads in tablets and wearables, lining up with a broader push of mainland issuers to Hong Kong that includes Victory Giant’s large raise.