Luxshare raises $3.1 billion in Hong Kong IPO, then slips 5% on debut
What's new: The Apple supplier priced at HK$63.28 a share, with proceeds earmarked for auto electronics, AI factory upgrades and deals.
Luxshare Precision Industry raised about HK$24.27 billion, or $3.09 billion, in its Hong Kong share sale after pricing at the top of its marketed range, but the stock fell more than 5% in its trading debut on Thursday. The Shenzhen-listed Apple supplier sold 383.5 million H-shares at HK$63.28 each and traded around HK$60 in early dealings. Luxshare said it will use the proceeds to expand manufacturing in automotive and consumer electronics, upgrade factories with AI, pursue acquisitions, repay debt and support working capital. Founded by Wang Laichun, the company has been pushing further into automotive electronics, including increasing its stake in Germany's Leoni AG to 74.9% in April 2026.