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Anker adds a Hong Kong listing to fund its push beyond the US

Anker adds a Hong Kong listing to fund its push beyond the US

Money Moves

The Chinese charger maker raised about $576 million in a second-market debut as US tariffs squeeze its largest market.

Today: H shares begin trading

Overview

Anker Innovations, the Chinese company behind many of the power banks and phone chargers sold on Amazon, began trading in Hong Kong on July 2. It priced shares at the top of the range and raised about US$576 million.

The listing gives Anker a second pool of capital and an international shareholder base while US tariffs press on its biggest market. More than 95% of Anker's sales come from outside China.

Why it matters

Anker's second listing gives it foreign capital and shareholders to lean on as US tariffs and pricing scrutiny threaten the market that drives most of its sales.

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Key Indicators

$576M
Gross proceeds raised
Roughly HK$4.63 billion from selling about 46.6 million H shares.
27.6x
Retail oversubscription
Hong Kong public tranche drew orders 27.57 times the shares on offer.
95%+
Sales from outside China
Anker earns most of its revenue in the US and Europe.
$3.65B
Trailing revenue
Twelve-month sales through 2025, up from $3.43 billion in 2024.

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People Involved

Organizations Involved

Timeline

August 2020 July 2026

6 events Latest: Today
Tap a bar to jump to that date
  1. H shares begin trading

    Today Corporate

    Anker's H shares start trading on the HKEX Main Board under code 00668, raising about HK$4.63 billion gross, roughly US$576 million.

  2. Pricing and strong demand

    Corporate

    Anker prices at the top, HK$99.32. The retail tranche is oversubscribed 27.57 times and the international tranche 10.24 times.

  3. Public offering opens

    Corporate

    Anker launches its Hong Kong offering of about 46.6 million H shares at up to HK$99.32 each.

  4. Anker files for a Hong Kong listing

    Corporate

    Anker submits its prospectus to add H shares in Hong Kong, with CICC, Goldman Sachs, and JPMorgan as sponsors.

  5. US lawmaker seeks tariff probe of Anker

    Regulatory

    The chair of the House committee on China urged the Commerce Department to investigate Anker over alleged tariff evasion, which Anker disputes.

  6. Anker lists in Shenzhen

    Corporate

    Anker goes public on Shenzhen's ChiNext board under code 300866, its first stock listing.

Historical Context

3 moments from history that rhyme with this story — and how they unfolded.

November 2019

Alibaba's Hong Kong secondary listing (2019)

Alibaba, already listed in New York, sold shares in Hong Kong and raised about $11 billion. US-China tensions and scrutiny of Chinese firms on American exchanges pushed it to build a share base closer to home.

Then

The listing gave Alibaba a large pool of Asian capital and a hedge against US delisting threats.

Now

It opened a path other US-listed Chinese firms followed, adding Hong Kong lines to reduce reliance on American markets.

Why this matters now

Like Alibaba, Anker is raising money in Hong Kong partly to cushion against US pressure on Chinese companies.

September 2024

Midea Group's Hong Kong listing (2024)

Appliance maker Midea, listed in Shenzhen, added H shares in Hong Kong in the city's biggest listing in three years. It raised more than $4 billion to fund overseas growth.

Then

The deal drew strong demand and was seen as reviving Hong Kong's stalled IPO market.

Now

It set a template for large mainland manufacturers to pursue A+H listings for global capital.

Why this matters now

Anker follows the same A+H playbook Midea used: a Shenzhen-listed maker tapping Hong Kong to fund expansion abroad.

June 2025

CATL's Hong Kong listing (2025)

Battery giant CATL, the world's largest maker of electric-vehicle cells, raised about $4.6 billion in Hong Kong. It was the year's biggest listing and cemented the city's IPO comeback.

Then

The debut priced strongly and pulled more mainland firms toward Hong Kong.

Now

CATL's success helped drive a record run of A+H listings and Hong Kong's return as a top IPO venue.

Why this matters now

Anker's listing rides the same wave CATL kicked off, and its raise is close in size, though far smaller as a company.

Sources

(7)