{"slug": "zhongji-innolight-already-has-30-cornerstone-investors-for-us-8b-ipo-sources", "title": "Zhongji Innolight already has 30 cornerstone investors for US$8b IPO: sources", "summary": "Zhongji Innolight has secured more than 30 cornerstone investors for its US$8 billion Hong Kong IPO, set for July 30, which would be the city's largest listing in seven years. Nearly half the base share offering has been taken by funds including BlackRock, Temasek Holdings and Canada Pension Plan Investment Board, sources said. The company, a supplier of optical modules for AI data centres to Nvidia, Alphabet and Meta Platforms, is offering shares at a top indicative price of HK$1,010, a 23% discount to its Shenzhen-listed stock.", "body_md": "# Zhongji Innolight already has 30 cornerstone investors for US$8b IPO: sources\n\nThe Chinese firm is aiming to raise US$8 billion in its Hong Kong listing on July 30, making it the city’s biggest share sale in seven years\n\nZhongji Innolight has attracted more than 30 cornerstone investors for its blockbuster initial public offering in Hong Kong, which could become the city’s biggest listing in seven years, according to people familiar with the matter.\n\n[are widely used in artificial intelligence data centres](https://www.scmp.com/tech/article/3351312/why-chinas-optical-communications-sector-latest-ai-boom-beneficiary?module=inline&pgtype=article)– has already seen nearly half the base share offering for its IPO snapped up by major international and long-only funds including BlackRock, Temasek Holdings and Canada Pension Plan Investment Board (CPPIB), the sources said.\n\nThe company is aiming to raise US$8 billion in the listing on July 30, which would make it Hong Kong’s largest share sale since Alibaba Group Holding’ US$12.9 billion offering in 2019.\n\nThe company is going to start book building and launch its IPO roadshow on Wednesday, selling shares at a top indicative price of HK$1,010 (US$129) per share. That would represent a 23 per cent discount on the closing price of the company’s Shenzhen-listed stock on Tuesday.\n\nGoldman Sachs, China International Capital Corporation (CICC), Morgan Stanley and GF Securities are acting as joint sponsors.\n\nZhongji is a supplier to tech giants including Nvidia, Alphabet and Meta Platforms, mainly producing optical modules for AI data centres. Already listed in Shenzhen, its A shares were up 86 per cent year-to-date as of Tuesday, giving the firm a market capitalisation of 1.26 trillion yuan (US$186 billion).", "url": "https://wpnews.pro/news/zhongji-innolight-already-has-30-cornerstone-investors-for-us-8b-ipo-sources", "canonical_source": "https://www.scmp.com/business/companies/article/3361377/zhongji-innolight-aims-hong-kongs-biggest-ipo-7-years-us8b-sale?utm_source=rss_feed", "published_at": "2026-07-21 12:46:13+00:00", "updated_at": "2026-07-21 13:37:54.870323+00:00", "lang": "en", "topics": ["artificial-intelligence", "ai-infrastructure"], "entities": ["Zhongji Innolight", "BlackRock", "Temasek Holdings", "Canada Pension Plan Investment Board", "Goldman Sachs", "China International Capital Corporation", "Morgan Stanley", "GF Securities"], "alternates": {"html": "https://wpnews.pro/news/zhongji-innolight-already-has-30-cornerstone-investors-for-us-8b-ipo-sources", "markdown": "https://wpnews.pro/news/zhongji-innolight-already-has-30-cornerstone-investors-for-us-8b-ipo-sources.md", "text": "https://wpnews.pro/news/zhongji-innolight-already-has-30-cornerstone-investors-for-us-8b-ipo-sources.txt", "jsonld": "https://wpnews.pro/news/zhongji-innolight-already-has-30-cornerstone-investors-for-us-8b-ipo-sources.jsonld"}}