China’s Zhongji InnoLight slips on Hong Kong debut after city’s biggest share sale in 2026

Shares of Zhongji Innolight declined 2.3% in their Hong Kong debut on Thursday (Jul 30), after the Chinese maker of data centre optical parts raised HK$53.4 billion (US$6.8 billion) in the city’s biggest share sale in 2026. The stock last traded at HK$957, down from its offer price of HK$980, amid a pullback in Asian chip shares that has rattled the AI trade. Companies have raised US$33.8 billion from new listings in Hong Kong so far in 2026, more than double the US$16.4 billion raised in the year-earlier period, according to LSEG data.

China’s Zhongji InnoLight slips on Hong Kong debut after city’s biggest share sale in 2026 Firms have raised US$33.8 billion from new listings in Hong Kong so far this year HONG KONG/SINGAPORE Shares of Zhongji Innolight declined in their Hong Kong debut on Thursday Jul 30 , after the Chinese maker of data centre optical parts raised HK$53.4 billion US$6.8 billion in the city’s biggest share sale this year. The stock last traded at HK$957, down 2.3 per cent from its offer price of HK$980, after opening at HK$971. Hong Kong’s Hang Seng Index was up 0.1 per cent, while the Hang Seng Tech Index was down 0.5 per cent. Zhongji topped the most actively traded stocks by turnover in early trade in Hong Kong, ahead of Tencent and Xiaomi. Its debut comes after a sharp pullback in Asian chip shares rattled the AI trade, as investors questioned high valuations, https://www.businesstimes.com.sg/wealth/wealth-investing/trillion-dollar-question-hanging-over-ai the cost of building AI data centres and rising competition from Chinese technology suppliers. The listing is Hong Kong’s largest share sale in 2026 and the city’s biggest since Alibaba Group raised US$12.9 billion in a secondary listing in 2019, according to LSEG data. It is also Asia’s second-largest listing so far in 2026, after Chinese memory chipmaker CXMT debuted up 466 per cent https://www.businesstimes.com.sg/international/global/cxmt-just-became-chinas-most-valuable-firm-where-does-it-stand-amid-ai-driven-chip-boom following a US$8.6 billion IPO in Shanghai on Monday. Companies have raised US$33.8 billion from new listings in Hong Kong so far in 2026, a record year-to-date total based on LSEG data. https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/hong-kong-stock-listing-boom-rumbles-towards-six-year-high That is more than double the US$16.4 billion raised in the year-earlier period in 2025. REUTERS Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free. Share with us your feedback on BT's products and services TRENDING NOW /pulse?ref=trending-now Keppel H1 net profit drops 59% to S$155 million on legacy rig impairments, M1 deal fallout Yeoh Pei Xien: YTL’s third-gen scion with a pastor’s heart Singtel explores Nasdaq-SGX dual listing for data centre arm Nxera, local data centre Reit UOB CEO’s youngest child Grant Wee turns burnout into a wellness business