Sapphire... schreef op 9 mei 2014 14:12:
Apple Supplier Lens Technology Readies IPO
(WSJ) Chinese glass-cover maker Lens Technology Co., a components supplier for Apple Inc., plans to raise 5.43 billion yuan
($872 million) in an initial public offering ahead of a listing in Shenzhen, as it seeks to expand production capacity to capture growing demand for consumer electronics.
The company, based in Liuyang in central China's Hunan Province, plans to sell up to 67.36 million shares, or 10% of its enlarged capital, according to a draft IPO plan posted on the China Securities Regulatory Commission's website on Thursday.
The proceeds will be used to upgrade and expand production capacity of touch-screen glass covers and
to make sapphire , which can be used in screen-cover production, Lens Technology said. The company makes glass covers for a wide range of consumer electronics, including cellphones, computers and cameras.
Apple and Samsung are among the top five brand-name clients of Lens Technology. The two electronics producers accounted for 84% of its sales in 2013.
If listed, Lens Technology could become the largest components supplier for Apple in China's stock market, analysts said, surpassing GoerTek Co., which supplies earphones to Apple. GoerTek's net profit rose 43% to 1.31 billion yuan in 2013.
Lens Technology's glass-cover shipments rose 25% to 476 million pieces last year, accounting for about one-fifth of the global market for cellphones and tablet computer glass covers, according to a company estimate. In 2013, the shipment of cellphones and tablet computers was 2.04 billion units, Lens said, citing data from Wind Information.
Lens Technology's 2013 net profit was 2.44 billion yuan, up 22% from 2 billion yuan in 2012, while its revenue rose 20% to 13.4 billion yuan in 2013 from 11.2 billion in 2012.