Hong Kong’s Biel, a supplier of touch screens for the iPhone 12 range and other devices, is reported to be considering an initial public offering (IPO) that could raise as much as $2 billion.
As Biel Crystal Manufactory Ltd looks to go public, it faces accusations of alleged racial discrimination in its job ads.
In early June it was alleged that over 100 online job advertisements for production line roles across more than 30 companies in the Apple supply chain use discriminatory language. The ads were said to have been placed by numerous Apple suppliers, including major suppliers like Biel, Foxconn, Pegatron, Quanta, Wistron, and Luxshare.
While the jobs were reportedly posted by outside agencies, the wording of the ads was apparently what the hiring firms wanted. The ads in question allegedly advise against applicants aged over 40 years old, or those with tattoos, along with some advising against applications from minorities.
Bloomberg reports its sources tell it that Biel is working on the offering with banks including China International Capital Corp., HSBC Holdings, and JPMorgan Chase & Co. More banks may be added and the sources expect that Biel will submit an IPO listing application soon.
Neither Biel nor the three named banks have commented publicly.
