Apple Supplier Biel Files For Hong Kong Initial Public Offering

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Biel Crystal Holdings Ltd., a smart device enclosure and module solution provider, filed documents to conduct an initial public offering in Hong Kong.

The company’s revenue rose 9% for the full year ended March 31 while profit jumped 71% during the period, it said in an exchange filing on Friday. JPMorgan, HSBC and CICC are joint sponsors of the deal.

Biel, a supplier of cover glass to Apple Inc., could raise $1 billion to $2 billion though the final size has not been determined yet, according to people with knowledge of the matter.

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