Delton Technology (Guangzhou) Inc. completed its global offering and H-share listing on The Stock Exchange of Hong Kong, raising HK$3.3 billion ($420 million).
Delton Technology is a globally leading manufacturer of critical components for high performance servers. Its A shares have been listed on the Shenzhen Stock Exchange since 2024. The Hong Kong listing marks the first “A+H” listing of a PCB manufacturer and the first listing of a high performance server PCB company on the Hong Kong market.
The Hong Kong public offering was oversubscribed more than 1,070 times, and the international offering attracted 12 cornerstone investors subscribing for $190 million of H shares.
S&C acted as Hong Kong and U.S. counsel to CITIC Securities (Hong Kong) Limited and HSBC Corporate Finance (Hong Kong) Limited as the joint sponsors, CLSA Limited, The Hongkong and Shanghai Banking Corporation Limited, GF Securities (Hong Kong) Brokerage Limited, Huatai Financial Holdings (Hong Kong) Limited and Guolian Securities International Capital Co., Limited as the underwriters.
The S&C team was led by Gwen Wong, Kay Ian Ng and Ching-Yang Lin and included Jeffrey Lee, Yiwen Wang and trainee solicitors Kelly Ma and Olivia Zhao.