FIT Hong Teng Limited (“Hong Teng Prcision”, 06088. HK) was successfully list on the main board of HKEX on July 13, 2017. Hong Teng Precision issues about 990 million shares at a price of HK$ 2.70/share and raises over HK$ 2.5 billion.

Hong Teng Precision is a supplier of cables, connectors and components, and connectivity solutions. It’s a subsidiary of Foxconn and its origin can be traced back to 1981. It has production sites in USA, Japan, Mexico, Singapore, South Korea, UK, Vietnam and China. According to Frost & Sullivan, Hong Teng Precision is no. 4 in the world in terms of market share. In terms of revenue in 2016, Hong Teng Precision takes up 5.1% of the connector’s market in the world.

Jingtian & Gongcheng is the PRC legal counsel of the co-sponsor, and is fully involved in the listing of Hong Teng Precision.