Mainland China-based printed circuit board (PCB) maker Suzhou Dongshan Precision Manufacturing has cleared its final listing hurdle in Hong Kong and is moving towards a share sale that may rank among the city’s largest initial public offerings (IPOs) in the fourth quarter, according to people familiar with the matter.
The company passed its listing hearing with bourse operator Hong Kong Exchanges and Clearing (HKEX) recently, the people said, requesting anonymity because the information was private.
The Shenzhen-listed company said in a Tuesday announcement that it had received approval from the China Securities Regulatory Commission for its planned Hong Kong listing, allowing it to issue up to 234 million shares.
Dongshan Precision, which makes PCBs, optical transceivers, precision components, touch panels and liquid crystal modules used in smartphones, PCs, automotive systems, industrial equipment and Internet of Things devices, initially aimed to open its order books as early as October to raise up to US$3 billion, according to the sources.
