Suzhou Dongshan Precision Manufacturing is preparing to launch a Hong Kong share sale with JPMorgan Chase’s asset management arm and Alibaba Group among the cornerstone investors lined up to anchor the deal, according to people familiar with the matter.
CPE, formerly known as Citic PE, and chipmaker Montage Technology are also expected to take part as cornerstone backers, with that group of investors collectively expected to absorb roughly half of the total offering.
The Suzhou-based company, which makes printed circuit boards along with optical transceivers used in AI infrastructure, is planning to begin taking investor orders as soon as Tuesday for a deal that could raise up to $1.8 billion once a greenshoe option is included.
The listing follows earlier reporting that Dongshan was gauging demand for an offering of as much as $3 billion, underscoring strong investor appetite for Chinese hardware suppliers tied to the broader AI buildout.
Backing from a global bank like JPMorgan alongside a domestic tech giant such as Alibaba signals continued cross-border investor interest in Chinese component makers that sit upstream of the AI and data-center supply chain, even as broader sentiment toward Chinese equity listings has fluctuated this year.
Terms of the offering, including final pricing and the specific allocation among cornerstone investors, are expected to be set once order-taking concludes, with the deal representing one of the larger Hong Kong listings tied to AI-adjacent manufacturing this year.
