Shenzhen Fibocom Wireless Inc. (0638.HK) has launched its Hong Kong IPO subscription from October 14 to October 17, with a proposed global offering of approximately 135,080,200 H shares (subject to the over-allotment option). The offer price ranges between HK$19.88 and HK$21.50 per share, with 200 shares per board lot and an estimated minimum investment of HK$4,343.37. Trading is expected to commence on the Main Board of HKEX on October 22, with CITIC Securities (Hong Kong) Limited acting as the sole sponsor.

Fibocom: The World’s Second-Largest Wireless Communication Module Provider

Offering structure: Hong Kong public offering accounts for approximately 10% (13,508,200 shares), and the international offering accounts for approximately 90% (121,572,000 shares).

Offer price: HK$19.88–21.50 per share; 200 shares per lot; minimum investment approximately HK$4,343.37.

Offer period: October 14–17 (expected pricing date: October 20).

Listing date: October 22.

IPO Sponsor: CITIC Securities (Hong Kong) Limited.

Company Overview

Founded in 1999, Fibocom is a global leader in wireless communication modules and solutions. Based on 2024 revenue from continuing operations, Fibocom ranked as the second-largest wireless communication module provider globally, with a 15.4% market share. The company focuses on data transmission modules, smart modules, and AI modules, and also provides edge AI, robotics, and other customized solutions. Its products are widely used in automotive electronics, smart home devices, consumer electronics, and smart retail. According to Frost & Sullivan, Fibocom ranked first globally in smart home and consumer electronics module markets, with market shares of 36.6% and 75.9% respectively, and second globally in automotive module markets, with a 14.4% share.

Financial Highlights

According to the prospectus, Fibocom’s revenue from continuing operations was approximately RMB 5.203 billion, RMB 5.652 billion, and RMB 6.971 billion for the years 2022 to 2024, with corresponding net profits of approximately RMB 352 million, RMB 377 million, and RMB 423 million. For the four months ended April 2025, revenue reached RMB 2.481 billion, with net profit of RMB 160 million. Based on the maximum offer price of HK$21.50, the estimated net proceeds will primarily be used for edge AI and robotics R&D (around 50%), technological enhancement and product innovation (around 20%), global market expansion and sales network development (around 20%), and general working capital (around 10%).

uSMART launches “HK IPO Fee-Waiver Offer” – subscribe to new shares at zero cost

Margin subscription: 0 % interest, leverage up to 10×

Cash subscription: HK$0 handling fee

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* 0 % interest applies to margin subscription amounts of HK$10 million or below.

^ All handling fees are waived for cash subscriptions.

This promotion is effective from 20 May 2025 until further notice. Certain high-profile IPOs may be excluded. The actual interest rates and fees charged are those shown in the uSMART App subscription interface; statutory government and exchange levies will still apply. The company reserves the right to amend, suspend or terminate the above offer or its terms and conditions at any time without prior notice, and its interpretation shall be final.

How to Subscribe for Fibocom via uSMART HK

The uSMART HK App features an IPO Centre with exclusive perks, allowing clients to subscribe instantly to new public offerings. After logging in, tap “Trade” at the bottom-right, select “IPO Subscription,” choose Fibocom, tap “Public Offer,” enter the subscription quantity, and submit your order.

(Image source: uSMART HK App)