Phone maker Transsion plans $500M Hong Kong IPO - Semafor

Transsion Holdings, the biggest seller of phones in Africa, is eyeing a $500 million initial public offering in Hong Kong as the firm seeks to raise money to develop a new generation of AI-enhanced devices.

Shenzhen-based Transsion dominates the African market across its three major smartphone brands: Infinix, itel, and Tecno, holding a 53% market share by revenue in 2025, according to research firm Frost & Sullivan.

The company plans to issue up to 132 million ordinary shares after receiving approval from Chinese regulators. The Hong Kong filing comes after its public debut on the Shanghai STAR Market in 2019, though its shares have dropped by nearly 20% since the start of the year to a market valuation of around $9.4 billion. Its revenue rose by 30% in the first months of the year, while net profit jumped 13% to $194 million.