Chinese PCB maker Dongshan raises ~$1.3B in Hong Kong IPO at $30B valuation

Suzhou Dongshan Precision Manufacturing debuted on the Hong Kong exchange, raising about $1.3 billion at a $30 billion valuation. The deal fell well short of its $3 billion target amid a difficult IPO market. Shares erased an opening slide to trade higher on the first day.

• IPO raised ~$1.3B, below the $3B target
• Company valued at $30B in the listing
• Shares turned positive after an opening drop
• Dongshan makes PCBs and chip substrates