Affiliate Disclosure
If you buy through our links, we may get a commission. Read our ethics policy.

Apple supplier Biel looks to raise $2 billion in Hong Kong IPO

Biel is a supplier for touch screens in the iPhone

Hong Kong's Biel, a supplier of touch screens for the iPhone 12 range and more, is reportedly considering an initial public offering which could see it raising up to $2 billion.

As the Biel Crystal Manufactory Ltd continues to be accused of alleged racial discrimination in job ads, the company is reportedly looking to go public.

According to Bloomberg, unnamed sources claim that Biel is now working on the offering with banks including China International Capital Corp., HSBC Holdings, and JPMorgan Chase & Co. More banks may be added, and while deliberations are continuing, the sources expect that Biel will submit an IPO listing application soon.

Neither Biel nor the three named banks have commented publicly.

As well as the racial discrimination allegation, Biel is also one of the companies that have been accused of violating Chinese labor laws.

Keep up with everything Apple in the weekly AppleInsider Podcast — and get a fast news update from AppleInsider Daily. Just say, "Hey, Siri," to your HomePod mini and ask for these podcasts, and our latest HomeKit Insider episode too.

If you want an ad-free main AppleInsider Podcast experience, you can support the AppleInsider podcast by subscribing for $5 per month through Apple's Podcasts app, or via Patreon if you prefer any other podcast player.

AppleInsider is also bringing you the best Apple-related deals for Amazon Prime Day 2021. There are bargains before, during, and even after Prime Day on June 21 and 22 — with every deal at your fingertips throughout the event.