Apple supplier Luxshare set to price Hong Kong’s biggest IPO of 2026 at the top

Luxshare Precision is set to price its Hong Kong listing at the top of its range, a sign of strong demand for one of the year’s marquee share sales. The Apple supplier plans to fix the offer at the maximum HK$63.28 a share, according to people cited by Bloomberg, raising as much as $3.1bn and making it Hong Kong’s largest initial public offering of 2026.

It caps a sprint by Apple’s Chinese suppliers to the Hong Kong market, where several have raised billions in quick succession.

The company is selling up to 383.5 million H-shares, with a final price expected around 7 July and trading due to begin on the 9th. Pricing at the ceiling is the outcome underwriters hope for and do not always get, and it points to an order book comfortably covered rather than one scraping to fill.

Most people have handled Luxshare’s work without knowing the name. The firm assembles AirPods and a growing share of iPhones, and has moved into higher-value final assembly, including for the Vision Pro headset, a trajectory that has taken it from making connectors and cables to sitting near the centre of Apple’s manufacturing base. That climb up the value chain is the story it is now selling to investors.

The numbers behind it are large. Luxshare reported revenue of 332.3 billion yuan, about $48.9bn, in 2025, up 24% on the year, and its Shenzhen-listed shares have more than doubled over the past twelve months to give it a market value above $77bn.

The 💜 of EU tech

The latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!

A Hong Kong listing adds a second, more internationally accessible venue for a company whose growth has outrun the pool of investors able to buy it onshore.

The pitch is not only about Apple. Luxshare has spread into 5G infrastructure, automotive electronics, and smart manufacturing across Asia, North America, and Europe, and much of the investor interest rests on that diversification, given how exposed any single-customer supplier is to one client’s product cycle. A listing that funds expansion beyond consumer gadgets is a hedge against the risk of being defined entirely by the iPhone.

There is a geopolitical layer to the timing as well. Apple has been steering more of its assembly toward India and Vietnam to reduce its dependence on China, and its Chinese suppliers have had to follow the work abroad or find new business at home.

A war chest raised in Hong Kong gives Luxshare the means to build capacity outside China and to chase customers beyond Apple, both of which matter as the supply chain reshapes around trade tension.

The listing is also a barometer for Hong Kong itself. The city’s IPO market spent several lean years as listings dried up, and a run of large, well-received deals in 2026 has been read as a tentative revival. A blockbuster priced at the top of its range is the kind of result the exchange has been waiting for.

The banks running the deal are a heavyweight group, with CITIC Securities, Goldman Sachs, and China International Capital Corp leading the offering. Their involvement, and the decision to price at the top, reflect a Hong Kong market that has warmed considerably after several thin years, helped by a run of listings tied to AI and advanced manufacturing.

Luxshare’s recent history is not without friction. Chinese regulators earlier fined the company and Wingtech over the handling of a deal, a reminder that its rise has drawn official attention as well as investor enthusiasm. None of that appears to have dampened appetite for the shares.

The listing also carries a personal arc that Chinese investors tend to like. Chairwoman and chief executive Grace Wang started on a Shenzhen production line in 1988 and founded Luxshare in 2004, building it into a supplier large enough to price a multibillion-dollar IPO at the top of its range. The final numbers land this week, when the market decides whether the debut lives up to the demand that shaped it.