Transsion raises $390 million in Hong Kong share sale

Bloomberg reports that Shenzhen Transsion Holdings, which dominates the market for smartphones in Africa, raised HK$3.1 billion ($390 million) in a Hong Kong share sale. An exchange filing cited by Bloomberg says it sold 86.6 million shares at HK$35.30 each, below the HK$38.80 maximum marketed price. Trading was expected to begin October 15, 2026. Its Shanghai-listed shares had declined about 27% in 2026 at the time of the report.