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