Chinese Phone Maker Plans to Raise Over $420 Million in Hong Kong Listing
By Kimberley Kao
Shenzhen Transsion is seeking to raise over $420 million in a Hong Kong listing, joining a spate of mainland Chinese corporates tapping investors in one of the world's busiest capital markets.
The Shenzhen-based phone maker, which is already listed in Shanghai, is aiming to raise up to 3.36 billion Hong Kong dollars, equivalent to US$428.1 million, offering 86.6 million shares at a maximum offer price of HK$38.80 each, according to an exchange filing Wednesday.
Cornerstone investors include Singapore's GIC, Longsys Investment and Bank of China Wealth Management.
Headquartered in China, Transsion markets and sells products and services to multiple regions and countries, primarily in Africa, the emerging Asia-Pacific markets, Latin America, the Middle East, and Central and Eastern Europe.
Transsion's annual revenue fell 4.5% to 65.5 billion yuan in 2025 from the prior year, while profit dropped 53% to 2.6 billion yuan, according to the company's filing.
Shares are expected to start trading on the Hong Kong Stock Exchange on Oct. 15.
Write to Kimberley Kao at kimberley.kao@wsj.com
(END) Dow Jones Newswires
October 07, 2026 00:01 ET (04:01 GMT)
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