Honor plans to hold an IPO – Kommersant

Yesterday, November 22, it became known that the former division of the Chinese telecommunications company Huawei Technologies Co. – Honor Device Co. plans to conduct an initial public offering (IPO) of its shares on the stock exchange. Honor was spun off from Huawei back in 2020, following the imposition of sanctions against the company in the United States. Now Honor takes leading positions in the Chinese smartphone market: according to Counterpoint Technology Market Research, in the third quarter, Honor’s share of all smartphones sold in China was 19%. Together with the Oppo brand, the company shares first place in market share.

Honor has not yet disclosed information about where and when the listing will take place. The company only said that it had already begun transforming its board of directors to the standards of a public company. Honor’s main owner is now the regional government of Shenzhen, where they are headquartered. Among Honor’s investors, the media also mention the Chinese display manufacturer BOE Technology Group Co.

Evgeny Khvostik