Apple Supplier Luxshare Seeks to Raise $2 Billion for Device, EV Expansion

Luxshare Precision Industry Co. aims to invest 6.2 billion yuan into the construction or upgrade of facilities and technology related to production of intelligent wearable devices. Photo: Bloomberg

(Bloomberg) — Apple Inc. supplier Luxshare Precision Industry Co. is seeking to raise up to 13.5 billion yuan ($2.1 billion) through a private share placement to fund a series of projects from intelligent wearable device manufacturing upgrade to electric vehicle component production.

The Shenzhen-listed company, a primary assembler of Apple’s AirPods products, plans to issue up to 2.1 billion shares to as many as 35 investors, including mutual funds, securities firms, trusts, finance companies, insurers as well as select foreign institutional investors, according to an exchange filing.