DLA Piper advises Luxshare Precision on HKD24.3 billion landmark Hong Kong IPO and H-share listing

Global law firm DLA Piper advised Luxshare Precision Industry Co., Ltd. (Luxshare Precision, stock code: 02475.HK / 002475.SZ) on its H-share listing on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX) which commenced trading on 9 July 2026. The transaction set multiple landmark records, including:

• the largest Hong Kong IPO in 2026 to date, raising approximately HKD24.3 billion (over USD3.1 billion) before exercise of the over-allotment option (green shoe), and
• the third-largest Hong Kong IPO by offer size among all A+H listed non-financial institution companies to date.

Luxshare Precision is a global leader in precision intelligent manufacturing solutions (PIMS), with a strong market position across the global intelligent manufacturing value chain. As an innovative technology company, Luxshare Precision provides cross-sector, vertically integrated development and intelligent manufacturing solutions, from components and modules to systems, for global clients across consumer electronics, automotive electronics, communication and data centers, and other end markets.

The offering attracted significant support from a broad range of well-known institutional investors. A total of 26 cornerstone investors subscribed for an aggregate of approximately HKD11.754 billion (USD1.5 billion) worth of offer shares. The cornerstone investor lineup featured leading global institutions, including Temasek, Hillhouse, GIC, CPE Neem, HK Greenwoods, Foresight Funds, Oaktree, Eastspring, First Sentier Investors, GF Fund, China Universal (HK), Bosera International, Fidelity International, Value Partners, Taikang Life, Tencent, Mirae Investors, Perseverance Asset Management, Harvest Global, Millennium, Jane Street, WT Asset Management, MY.Alpha and Polymer, alongside prominent sovereign wealth funds and global financial institutions. The breadth, quality and global influence of the cornerstone investor lineup underscore strong international investor confidence in the company.

Throughout the course of the transaction, the DLA Piper team worked closely with the client and other advisers to deliver the listing within an accelerated timeframe. The DLA Piper team was led by Sherlyn Lau, Head of Capital Markets and Corporate Finance, APAC, with support from Linda Ruan (senior legal officer), Iris Yuen and Jacob Zhao (of counsels), Jiefei Yao (senior consultant), Maggie Bai (registered foreign lawyer), Jianwen Wang (consultant), Hannah Wong (senior corporate manager), Wendy Ho (senior legal officer) and Marcus Xing-Li (legal officer).

Commenting on the transaction, Sherlyn Lau said: “We are delighted to have advised Luxshare Precision on this landmark H-share listing, which received strong support from a group of well-known cornerstone investors and reflects investors’ confidence in the company’s business, market position and long-term growth prospects. This transaction further demonstrates Hong Kong’s continued attractiveness as a premier international fundraising platform and highlights the ongoing momentum in the A+H listing market.”

The transaction further reinforces DLA Piper’s leading Capital Markets practice in Asia and its strong track record advising on complex and high-profile Hong Kong IPOs and H-share listings. In recent months, the firm has advised on several significant Hong Kong listings led by Sherlyn Lau (Head of Capital Markets and Corporate Finance, APAC) and George Wu (Head of Equity Capital Markets, APAC), including the Hong Kong IPOs and H-share listings of Guangdong True Health Medical Technology Development Co., Ltd., Circuit Fabology Microelectronics Equipment Co., Ltd., Shanghai Seer Intelligent Technology Co., Ltd., Star Sports Medicine Co., Ltd and Nsing Technologies Inc. The Luxshare Precision transaction, as the largest Hong Kong IPO of 2026 to date, further demonstrates the team’s ability to advise on complex, high-value and strategically important capital markets transactions.