China’s Lingyi iTech, which supplies display components for Apple iPhones, is planning a second stock market listing in Hong Kong to raise up to HK$8.3 billion ($1bn, £800m) as it seeks to expand into areas including AI servers and humanoid robotics.
The company, which is already listed in Shenzhen, is expected to make its Hong Kong debut on Friday after offering 811.8 million shares at a maximum price of HK$10.18 each, according to a regulatory filing.
The subscription period opened on Wednesday of last week with cornerstone investors including GF Fund, Sunny Optical Capital and smartphone maker Honor, a Huawei spin-off.
Diversification
Lingyi has been looking to move beyond a maturing smartphone market by tapping into growing demand for humanoid robots, smart glasses, foldable smartphones and AI servers.
