Smartphone, wearables supplier to raise $2.13B for new production lines
Luxshare Precision Industry Co Ltd, a supplier of smartphone components and wearables, said on Monday it aims to raise up to 13.5 billion yuan ($2.13 billion) to fund six projects, including building a production line for wearable devices.
The company plans to issue up to 2.1 billion shares to up to 35 investors at a price that will be disclosed at a later stage, Luxshare said in a filing to the Shenzhen stock exchange.
The move came as Luxshare pushed to “improve the company’s production capacity in downstream applications such as consumer electronics and smart vehicles,” it said in the filing.
The six projects included the construction of production lines of smart wearable devices, smart mobile terminal precision components, and high-voltage connection systems for new energy vehicles, according to its filing. MyWinet
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