Dongshan Precision launches $1.3 billion Hong Kong IPO
Printed circuit board (PCB) maker Suzhou Dongshan Precision Manufacturing Co. Ltd. (2384.HK; 002384.SZ) launched its Hong Kong IPO on Tuesday, aiming to raise up to HK$10.5 billion ($1.34 billion) by selling 113.8 million H-shares for up to HK$93.80 each.
Subscriptions for shares will be accepted through Friday, with trading set to begin on Oct. 28. Twenty cornerstone investors have agreed to buy a total of 56.9 million shares, or half the amount being offered.
The company is the world’s third-largest PCB maker and the seventh-largest maker of optical transceivers, based on its revenue in 2025, according to its prospectus. Its revenue rose 64% year-on-year to 27.8 billion yuan ($4.16 billion) in the first half of this year, while its profit nearly quadrupled to 2.98 billion yuan from 759 million yuan over that time.
Dongshan Precision’s Shenzhen-listed shares were unchanged in Tuesday trading. The stock is up 44.3% this year, giving the company a price-to-earnings (P/E) ratio of 63.
By Doug Young
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