Benzinga | Jun 18, 2021 09:20AM EDT

Apple, Samsung Supplier Aims To Raise Up To $2B In Hong Kong IPO: Bloomberg

* Apple Inc, (NASDAQ:AAPL) Samsung Electronics Co Ltd (OTC:SSNLF) cover glass supplier, Biel Crystal Manufactory Ltd, is eyeing a Hong Kong initial public offering (IPO) to raise around $2 billion, Bloomberg reports.

* The touch screen manufacturer is working with China International Capital Corp Ltd (OTC:CNICF), HSBC Holdings PLC (NYSE:HSBC), and JPMorgan Chase & Co (NYSE:JPM) on the offering.

* Biel previously canceled its $1.5 billion IPO plans in 2018 due to China and U.S.'s escalating trade war.

* Chairman Yeung Kin-man has a net worth of about $4.5 billion.

* Biel's website disclosed the company's factories in Shenzhen and Huizhou.

* Hong Kong IPOs have already raised $25 billion, more than double compared of 2020.

* Reuters notes that online healthcare giant WeDoctor could raise about $2 billion in Hong Kong IPO following investor appetite recovery. A spinoff of property developer China Vanke Co.'s management business could fetch about $2 billion.