China’s Lens Technology aims for July Hong Kong listing, sources say

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HONG KONG (Reuters) – Shenzhen-listed Chinese mobile screen maker Lens Technology is planning to file an application for a Hong Kong listing by the end of this month, aiming to get the offering done in July, said two people with knowledge of the deal.

The company, which is one of the suppliers for Apple’s iPhone, has tapped CITIC Securities to sponsor the offering, the two people said, declining to be named as the information is confidential.

Bank of America has also been appointed to be the offering’s overall coordinator, said one of them.

Lens Technology is aiming to raise $1 billion to $1.5 billion in the offering, the person said.

The company did not respond to a Reuters request for comment. CITIC Securities and Bank of America declined to comment.

The timing and terms of the offering is not set in stone and could change in line with market conditions, the people cautioned.

The Chinese protective panels producer for mobile phone displays said on March 12 it planned to issue H shares and to seek a listing on the Hong Kong bourse.

The company’s shares have gained 18% this year. Lens Technology opened at 26.15 yuan ($3.62) a share on Wednesday, giving it a market cap of around $18 billion, LSEG data showed.

The shares were down nearly 1% on Wednesday afternoon at 25.89 yuan each.

($1 = 7.2330 Chinese yuan renminbi)

(Reporting by Kane Wu in Hong Kong and Scott Murdoch in Sydney; Editing by Kate Mayberry)