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.