Zhongji Innolight Jumps 8% on Approval for Up to $8 Billion Hong Kong Listing
Updated
Updated · CNBC · Jul 20
Zhongji Innolight Jumps 8% on Approval for Up to $8 Billion Hong Kong Listing
3 articles · Updated · CNBC · Jul 20
Summary
Zhongji Innolight rose as much as 8% on Monday, later trading 4.7% higher, after winning approval Friday for a Hong Kong share sale worth up to $8 billion.
The optical transceiver maker has begun sounding out investors, though the deal's final size and timing remain under discussion, according to people familiar with the matter.
At up to $8 billion, the offering would top Luxshare Precision's $3.1 billion IPO earlier this month and become Hong Kong's biggest listing of 2026.
The planned sale adds to a rush of Chinese AI supply-chain companies seeking Hong Kong listings as the city's IPO market raised HK$209.9 billion from 85 deals in the first half.
KPMG said Hong Kong now has more than 500 active IPO applicants, with tech companies expected to remain a main growth driver.