Apple Supplier Luxshare Set to Price Hong Kong’s Biggest IPO of 2026 at the Top
The AirPods and iPhone assembler is expected to fix its share sale at the maximum, raising as much as $3.1bn as it diversifies beyond consumer gadgets.
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July 6, 2026 – 11:24 am
Luxshare Precision is set to price its Hong Kong listing at the top of its range, according to people cited by Bloomberg, raising as much as $3.1bn and making it Hong Kong’s largest initial public offering (IPO) of 2026. This follows a trend by Apple’s Chinese suppliers to enter the Hong Kong market, with several raising billions in quick succession.
The company plans to offer up to 383.5 million H-shares, with pricing expected around July 7th and trading set to begin on the 9th. Pricing at the ceiling indicates a strong demand and well-covered order book.
Most people are familiar with Luxshare’s work without recognizing the name. The company assembles AirPods and iPhones, having expanded into higher-value final assembly, including for the Vision Pro headset. This trajectory has elevated its position from connector and cable manufacturer to a key player in Apple’s manufacturing base.
In 2025, Luxshare reported revenue of 332.3 billion yuan (about $48.9bn), up 24% year-on-year, with its Shenzhen-listed shares more than doubling over the past twelve months to a market value above $77bn.
A Hong Kong listing provides an additional, more globally accessible venue for Luxshare, whose growth has outpaced potential onshore investors. The diversification beyond Apple is a key selling point, as it mitigates risk associated with being tied to a single client’s product cycle.
The timing also aligns with Apple’s strategic shift to reduce its dependence on China by moving assembly to India and Vietnam. Luxshare can capitalize on this opportunity to expand its customer base and capacity outside China.
This listing is seen as a significant milestone for Hong Kong’s IPO market, which has been recovering after several lean years. A successful, large-scale deal could signal a revival for the exchange.