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

Lingyi iTech priced its Hong Kong IPO at HK$10.18 per share, putting the deal on track to raise about HK$8.3 billion ($1.06 billion). The company said part of the proceeds will be used to expand AI capacity, tying the offering to a growth area in technology. The news is modestly positive for the company and relevant to Hong Kong equity issuance activity.

Analysis

Lingyi iTech priced its Hong Kong IPO at HK$10.18 per share, putting the deal on track to raise about HK$8.3 billion ($1.06 billion). The company said part of the proceeds will be used to expand AI capacity, tying the offering to a growth area in technology. The news is modestly positive for the company and relevant to Hong Kong equity issuance activity.