Suzhou Dongshan HK IPO raises US$1.8b, below target on US trade risk

Suzhou Dongshan Precision Manufacturing's Hong Kong IPO raised US$1.8 billion, below expectations, as investors priced in potential US trade restrictions on its optical modules business. The company offered 113.7 million shares at a maximum HK$93.80 each, with 20 cornerstone investors. This signals cautious appetite for mega listings in Hong Kong amid escalating US-China tech trade tensions.