Suzhou Dongshan Precision Manufacturing Co. will debut in Hong Kong on Wednesday after raising HK$9.9 billion ($1.3 billion) in an IPO that tests investor appetite for AI‑linked listings amid a market pullback. The printed circuit board maker priced 113.8 million shares at HK$86.80 each, a 35 % discount to its Shenzhen close, and the shares fell up to 12 % in the gray market. The offering is about half the $3 billion Dongshan originally sought, reflecting a more selective market for large deals.
Cornerstone investors, including JPMorgan Asset Management, Alibaba Group Holding Ltd., CPE and Montage Technology Co., will take a combined 50 % of the issue, while UBS Group AG, Guotai Haitong Securities Co., GF Securities Co. and Citic Securities Co. act as joint sponsors. Dongshan, the third‑largest PCB supplier in an $85.2 billion global market, joins a wave of AI‑supply‑chain listings that have driven Hong Kong’s most active year since 2020.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing