Apple supplier Lingyi iTech prices $1.06 billion Hong Kong IPO to tap AI demand

Apple supplier Lingyi iTech prices $1.06 billion Hong Kong IPO to tap AI demand details Lingyi iTech’s Hong Kong launch priced for fundraising tied to artificial intelligence capacity. On June 24, the China-based Apple supplier set its IPO at HK$10.18 per share, aiming to raise about HK$8.3 billion (approximately $1.06 billion). The company plans to allocate around 37.6% of proceeds, roughly HK$3.07 billion, to increase production capacity and upgrade manufacturing, including about HK$1.71 billion for emerging areas such as high-density AI servers, humanoid robot hardware, and AI optical communication infrastructure over the next three years. Reuters reports it expects demand levels for its international offering and Hong Kong tranche to be announced on June 25, with trading beginning June 26 at 9:00 a.m. local time. Founded in 2006 by billionaire Zeng Fangqin, Lingyi supplies parts for Apple, Huawei and Samsung. Analysts expect investor focus on valuation and earnings rather than a pure AI theme. Global IPO momentum is improving after a U.S.-Iran agreement.