Anker adds a Hong Kong listing to fund its push beyond the US
Money MovesThe Chinese charger maker raised about $576 million in a second-market debut as US tariffs squeeze its largest market.
July 2nd, 2026: H shares begin tradingNew here? Follow stories to track developments over time. Create a free account to get updates when stories you care about change.
Overview
Updated Jul 2Anker 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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Chinese maker of power banks, chargers, and other consumer electronics that sells mostly to overseas shoppers.
Hong Kong's main stock market, now a top destination for mainland Chinese firms seeking a second listing.
Timeline
August 2020 July 2026
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H shares begin trading
Latest CorporateAnker's H shares start trading on the HKEX Main Board under code 00668, raising about HK$4.63 billion gross, roughly US$576 million.
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Pricing and strong demand
CorporateAnker prices at the top, HK$99.32. The retail tranche is oversubscribed 27.57 times and the international tranche 10.24 times.
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Public offering opens
CorporateAnker launches its Hong Kong offering of about 46.6 million H shares at up to HK$99.32 each.
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Anker files for a Hong Kong listing
CorporateAnker submits its prospectus to add H shares in Hong Kong, with CICC, Goldman Sachs, and JPMorgan as sponsors.
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US lawmaker seeks tariff probe of Anker
RegulatoryThe chair of the House committee on China urged the Commerce Department to investigate Anker over alleged tariff evasion, which Anker disputes.
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Anker lists in Shenzhen
CorporateAnker 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.
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.
The listing gave Alibaba a large pool of Asian capital and a hedge against US delisting threats.
It opened a path other US-listed Chinese firms followed, adding Hong Kong lines to reduce reliance on American markets.
Like Alibaba, Anker is raising money in Hong Kong partly to cushion against US pressure on Chinese companies.
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.
The deal drew strong demand and was seen as reviving Hong Kong's stalled IPO market.
It set a template for large mainland manufacturers to pursue A+H listings for global capital.
Anker follows the same A+H playbook Midea used: a Shenzhen-listed maker tapping Hong Kong to fund expansion abroad.
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.
The debut priced strongly and pulled more mainland firms toward Hong Kong.
CATL's success helped drive a record run of A+H listings and Hong Kong's return as a top IPO venue.
Anker's listing rides the same wave CATL kicked off, and its raise is close in size, though far smaller as a company.
