Printed circuit board (PCB) manufacturer Shenzhen Kinwong Electronic Co. Ltd. (3228.HK; 603228.SH) opened 7% lower in its Hong Kong trading debut on Tuesday, but then reversed course to close up 9.3% at HK$76.40 by the midday break.
The company sold 72.9 million shares for HK$69.88 each, raising net proceeds of nearly HK$4.96 billion ($636 million). The public offering for local investors was oversubscribed by nearly 93 times, while the international offering was oversubscribed by 9.6 times. A total of 14 cornerstone investors subscribed for 34.79 million shares, accounting for 47.69% of the offering.
Kinwong Electronic is the world’s largest automotive electronic PCB supplier with 10.6% of the market, based on 2025 revenue. In the broader global market, it ranks 11th with 2.5% share.
The company reported its revenue rose 18% year-over-year to 5.34 billion yuan in the first four months of this year. But its profit over that period declined 25.3% to 317 million yuan.
By Lau Chi Hang
To subscribe to Bamboo Works weekly free newsletter, click here
Related Articles
Red Avenue shares slump in Hong Kong trading debut
Longsys in new alliance to bring on-device AI to handsets
RELATED ARTICLES
-
Kinwong runs hot on AI boom, cold on plunging margins
- PCB maker Kinwong Electronic’s Hong Kong IPO approved by CSRC
-
Han’s CNC etches out triple-digit growth on AI infrastructure boom
3200.HK301200.SHE
-
Eacon Group rises in Hong Kong trading debut
7687.HK
- NASN Tech jumps in trading debut as first-quarter revenue rises nearly 47%
-
Huaqin stock rises in Hong Kong debut as AI data center business booms
3296.HK603296.SHG
-
Red Avenue shares slump in Hong Kong trading debut
9607.HK603650.SHG
