Zhongji Innolight is preparing for its upcoming listing on the Hong Kong Stock Exchange. The company is informing prospective investors that it intends to price its shares below the maximum initial offering level.
The total deal size is estimated at HK$53.4 billion ($6.8 billion). According to reports, if finalized, the offering would rank as Asia's second-largest listing of the year behind Chinese chipmaker CXMT's $8.6 billion Shanghai IPO.
The transaction is expected to be the largest share sale in Hong Kong in nearly seven years, a scale not seen since Alibaba's secondary listing in 2019, though some analysts note potential discrepancies regarding whether this constitutes a primary IPO or a secondary share sale.
Updates
The listing involves 54.5 million shares and has reportedly raised $6.81 billion, making it the second-largest listing in Asia for 2026. However, Reuters has not been able to verify these details and the company has not yet responded to requests for comment regarding the reported figures.
The listing, which is reported to be Asia's second-largest of 2026, involves 54.5 million shares and has reportedly raised $6.81 billion. However, these figures remain unverified as Reuters could not immediately confirm the report, and the company has not yet responded to requests for comment.
The company's Hong Kong listing involves 54.5 million shares and has reportedly raised $6.81 billion, though this figure remains disputed. If verified, the transaction would mark Asia's second-largest listing of 2026.
The company's Hong Kong listing involves 54.5 million shares and has reportedly raised $6.81 billion, marking it as Asia's second-largest listing of 2026. While these figures have emerged, Reuters could not immediately verify the report and Innolight has not yet responded to requests for comment.
The company's Hong Kong listing involves 54.5 million H-shares sold by Shandong Zhongji Electrical Equipment, with trading expected to commence on July 30. While the exact total raised remains disputed at a reported $6.81 billion, the company has announced a 4 to 8 billion yuan share buy-back plan for its Shenzhen-listed stock to bolster market sentiment ahead of the debut. Proceeds from the offering are earmarked for R&D, production capacity expansion, and strategic acquisitions, as the company seeks to grow its overseas presence amid rising global demand for AI-related optical networking equipment.
The Hong Kong listing involves 54.5 million shares and has reportedly raised $6.81 billion, making it Asia's second-largest listing of 2026. Shares are expected to begin trading on July 30, with proceeds earmarked for production expansion, R&D, and strategic acquisitions. Ahead of the debut, the company announced a buy-back plan worth 4 to 8 billion yuan for its Shenzhen-listed shares to bolster market sentiment following a recent stock sell-off.
Zhongji Innolight's Hong Kong listing has raised approximately $6.81 billion, with the company's shares officially beginning trade on Thursday. While the IPO attracted significant investor interest—oversubscribing 16.8 times for retail and 9.7 times for international investors—the debut faced pressure amid a global sell-off in AI-related stocks. Reports on the company's opening performance are currently conflicting, with some sources noting a 1.28% decline to HK$953, while other reports suggest a drop as steep as 9%.
Zhongji Innolight's Hong Kong listing has raised $6.81 billion, marking Asia's second-largest offering of 2026, though sources remain divided on the scale of the share price decline during its Thursday debut. The company, which announced a share buy-back plan of up to 8 billion yuan to bolster sentiment, saw its H-shares begin trading at HK$980 while facing a broader global sell-off of AI-related stocks. Proceeds from the 54.5 million share offering are designated for production expansion and R&D, as the firm continues to navigate volatile market conditions.
Zhongji Innolight's Hong Kong listing has raised approximately $6.81 billion, with the company's shares officially beginning trading this Thursday. Following its debut, reports on the stock's performance are conflicting, with some sources noting a 1.28% decline while others claim a drop of up to 9%. Prior to the listing, the company announced a buy-back plan for its Shenzhen-listed shares worth between 4 billion and 8 billion yuan to bolster investor sentiment amid market volatility.
Zhongji Innolight's Hong Kong listing has raised $6.81 billion, marking it as Asia's second-largest offering of 2026. The company, which is the world's largest provider of optical interconnect solutions, began trading on Thursday amid a global sell-off in AI-related stocks. While reports on the share performance vary, with some sources noting a 1.28% decline and others claiming a 9% drop, the company's market capitalization surpassed HK$1 trillion at the time of the IPO. Ahead of the debut, the firm also announced a buy-back plan for its Shenzhen-listed shares worth up to 8 billion yuan to bolster investor sentiment.
Zhongji Innolight's Hong Kong listing, which involved 54.5 million shares, raised $6.81 billion and marked the region's second-largest IPO of 2026. While the company intended to use the proceeds for capacity expansion and strategic development, its shares faced pressure during their debut amid a global sell-off of AI-related stocks. Reports regarding the specific performance on the first trading day remain conflicted, with sources citing a decline of 1.28% while others claim a fall of up to 9%.
Zhongji Innolight's Hong Kong listing has raised $6.81 billion, involving 54.5 million H-shares with a debut price of HK$980. The company, which is the world's largest provider of optical interconnect solutions, saw its shares fall 1.28% on their trading debut amid a global sell-off in AI-related stocks, though some reports suggest the decline was as high as 9%. Prior to the debut, the firm announced a share buy-back plan of up to 8 billion yuan to bolster investor sentiment following a 16% slump in its Shenzhen-listed shares.
Zhongji Innolight's Hong Kong listing raised $6.81 billion, involving 54.5 million shares sold by Shandong Zhongji Electrical Equipment. Ahead of its debut, the company announced a buy-back plan for its Shenzhen-listed shares worth up to 8 billion yuan to bolster sentiment. Although market demand saw the retail tranche oversubscribed by 16.8 times, the stock saw volatile performance on its first trading day, with reports on the initial price decline ranging from 1.28% to 9% amid a broader global sell-off in AI-related stocks.
