Luxshare’s Hong Kong IPO slips about 5% after HK$24.3bn raise

Luxshare Precision’s Hong Kong initial public offering raised HK$24.27 billion on Thursday, with H-shares priced at HK$63.28 each. In early trading the stock fell about 5%, trading toward HK$60.

The H-shares were set at the top of the marketed range. Unofficial gray-market trading had shown pressure before the listing, indicating some investors planned to flip allocations rather than hold them.

The Hong Kong offer price was lower than the company’s Shenzhen-listed share price, which closed at 62.47 yuan on Wednesday. That created a pricing gap between the two markets.

Market participants pointed to short-term selling and allocation flows as drivers of the early drop and did not report any immediate change in the company’s reported business results.

Investor concern remains over customer concentration. Luxshare assembles products for Apple, which accounted for 57% of Luxshare’s revenue in 2025, down from 75% in 2023.

The listing came during a busy period for Hong Kong IPOs. Five Chinese technology and advanced-manufacturing companies launched offerings last week seeking as much as HK$44.1 billion combined. New listings in the city raised about $22.45 billion in the first half of 2026, an increase of about 57% from a year earlier.

Doo Financial Futures described the IPO as benefiting from AI-driven global equity momentum and noted Hong Kong’s renewed appeal as a fundraising venue for Chinese companies. Analysts cautioned observers to monitor valuation levels, post-listing trading and geopolitical risk.