Apple Supplier Lingyi's Shares Rise After $1 Billion Hong Kong Listing

About this update from Lingyi Itech (guangdong) Company Class H

By Kimberley KaoShares of Apple supplier Lingyi iTech (Guangdong) rose in their Hong Kong debut, as the city marks one of its busiest listing months this year.Lingyi iTech's stock rose as much as 16% on Friday after raising gross proceeds of 8.26 billion Hong Kong dollars, equivalent to US$1.05 billion. Shares then pared gains and last traded 2.1% higher. The benchmark Hang Seng Index was recently down 2.3%.The electronic hardware company offered 811.8 million shares at HK$10.18 each in the offering.Its Shenzhen-listed shares were last 6.8% lower.Founded in 2006, Lingyi provides core components for consumer electronics, automotive applications and robotics, including supplying hardware for artificial-intelligence terminals.Lingyi plans to use about 38% of the offering's proceeds, or about HK$3.07 billion, for enhancing production capacity and upgrading core manufacturing processes, according to the offering prospectus.That includes around HK$1.71 billion to ​strengthen manufacturing capabilities in emerging sectors such as high-density AI computing servers, humanoid-robot hardware and AI optical ​communication infrastructure through 2028, the company said.EY estimates that proceeds from listings in Hong Kong for the first half will hit HK$209.8 billion, nearly double the funds raised in the same period in 2025. Mainland-listed companies are driving Hong Kong listing activity, with strong demand from the industrial and technology sectors, EY said in a recent report.Write to Kimberley Kao at [email protected]

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