SHANGHAI :
Luxshare’s Stock Gains After USD472 Million Deal to Buy IPhone Units From Wistron
Liao Shumin
DATE:  Jul 20 2020
/ SOURCE:  Yicai
Luxshare’s Stock Gains After USD472 Million Deal to Buy IPhone Units From Wistron Luxshare’s Stock Gains After USD472 Million Deal to Buy IPhone Units From Wistron

(Yicai Global) July 20 -- Luxshare Precision Industry’s shares rose after the Chinese electronic components maker said it will pay CNY3.3 billion (USD472 million) for two iPhone production units of Apple’s third-largest handset assembler Wistron.

Luxshare [SHE: 002475] closed 1 percent higher at CNY55.69 (USD7.97), after jumping as much as 7 percent earlier today. The Dongguan-based company’s stock price gained 4.2 percent on July 17.

The connector maker and its parent company Luxshare Group will jointly acquire all of Wistron Investment Jiangsu and Wistron InfoComm Manufacturing Kunshan, the buyer said in a statement on July 17.

Taipei-based Wistron has been assembling AirPods and Apple watches for Apple in recent years. But peers Hon Hai Technology Group and Pegatron are still larger suppliers to the Californian tech giant. 

Editor: Emmi Laine

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Keywords:   Luxshare Precision Industry Co.