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 CNICF, HSBC 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.