Han’s CNC eyes $618M with top-range Hong Kong IPO

Chinese printed circuit board (PCB) equipment manufacturer Shenzhen Han’s CNC Technology is set to price its Hong Kong stock listing at the top end of its offer range, aiming to raise about HK$4.83 billion (around $618 million).

The company is offering 50.5 million shares at HK$95.80 each, the highest level of its previously marketed price range. The funds raised are expected to support operational expansion and provide additional working capital, the company said earlier, News.Az reports, citing Reuters.

Investor interest in the listing appears strong. Ten cornerstone investors have committed a combined $309.8 million, including major global institutions such as Singapore’s GIC, asset manager Schroders and technology firm Victory Giant Technology.

According to its prospectus, Shenzhen-based Han’s CNC was China’s largest specialized PCB production equipment manufacturer by revenue in 2024, holding about 10.1% market share domestically.

The listing comes as Hong Kong’s IPO market shows renewed momentum. Several companies are pursuing public offerings, including major Chinese firms across agriculture and semiconductor sectors. Market activity has helped Hong Kong record its strongest start to a year since 2021.

Data shows IPOs and secondary listings in Hong Kong raised about $5.5 billion in January alone — the highest level for the month in four years.

Han’s CNC is expected to announce final allocation details on February 5. The company’s shares are scheduled to begin trading on the Hong Kong Stock Exchange on February 6.

The listing highlights continued investor appetite for advanced manufacturing and semiconductor supply chain companies, particularly those linked to electronics production and high-tech industrial equipment.

News.Az 

By Aysel Mammadzada