Adia backs mega IPO of Hong Kong manufacturer

Abu Dhabi Investment Authority (Adia) is backing what could become Hong Kong’s biggest IPO of the year, joining a group of cornerstone investors set to buy up to USD 1.5 bn of Luxshare Precision Industry’s total offering, as the Chinese manufacturer seeks to raise up to HKD 24.3 bn (USD 3.1 bn), according to Luxshare’s prospectus (pdf).

The Apple supplier has begun taking investor orders for 383.5 mn shares at up to HKD 63.28 (USD 8.07) each with final price offers set for 7 July ahead of trading on 9 July. The proceeds will fund capacity expansion across its automotive and consumer electronics businesses, alongside R&D, acquisitions, debt repayment, and working capital.

Adia’s role: The authority joins Temasek, GIC, Hillhouse Investment, Tencent, and Millennium Management among the cornerstone investors. It committed USD 45 mn to the offering, acquiring 5.57 mn H shares, equivalent to roughly 0.07% of Luxshare’s total issued share capital.

About Luxshare: One of Apple’s key AirPods assemblers, Luxshare has seen its bottom line grow 24.6% to RMB 18.2 bn in 2025. Its assets stood at RMB 306.5 bn (c. USD 45.1 bn) as of the end of last year.

ICYMI- Adia took part in Rajasthan-based KRN Heat Exchanger’s IPO earlier this month and reaped the rewards of earlier exposure to listings, cashing in on German gas engine maker Innio’s US IPO that raised USD 2.4 bn at the start of the month.