Zhongji Innolight Plans US$8B Hong Kong IPO on July 22, Priced at HK$1,010 per Share

According to Reuters, China's Zhongji Innolight, a Shenzhen-listed maker of optical transceivers, plans to launch a Hong Kong share sale on July 22 to raise at least US$8 billion. If completed, it would be Hong Kong's largest share sale since Alibaba's 2019 listing and Asia's second-largest listing this year. The Hong Kong shares are priced at up to HK$1,010 (US$130) each, representing a 13.2% discount to Zhongji's Shenzhen closing price on July 20.

In the first quarter ended March 31, Zhongji's revenue surged 192% to 19.5 billion yuan (US$2.88 billion), with profit jumping 274% to 6.3 billion yuan (US$934 million). The U.S. accounted for 61.7% of the company's revenue in that period. Zhongji has been the world's largest optical interconnect solutions provider by revenue for five consecutive years since 2021.