Apple, Samsung Supplier Aims To Raise Up To $2B In Hong Kong IPO: Bloomberg

  • Apple Inc, AAPL Samsung Electronics Co Ltd SSNLF cover glass supplier, Biel Crystal Manufactory Ltd, is eyeing a Hong Kong initial public offering (IPO) to raise around $2 billion, Bloomberg reports.
  • The touch screen manufacturer is working with China International Capital Corp Ltd CNICFHSBC Holdings PLC HSBC, and JPMorgan Chase & Co JPM on the offering.
  • Biel previously canceled its $1.5 billion IPO plans in 2018 due to China and U.S.’s escalating trade war.
  • Chairman Yeung Kin-man has a net worth of about $4.5 billion.
  • Biel’s website disclosed the company’s factories in Shenzhen and Huizhou.
  • Hong Kong IPOs have already raised $25 billion, more than double compared of 2020.
  • Reuters notes that online healthcare giant WeDoctor could raise about $2 billion in Hong Kong IPO following investor appetite recovery. A spinoff of property developer China Vanke Co.’s management business could fetch about $2 billion.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsPenny StocksIPOsTechMediaBloombergBriefsHong Kong
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!