Zhongji Innolight has priced its Hong Kong H-share offering at HK$980 per share and raised HK$53.41 billion, or about $6.81 billion. Trading is scheduled to begin on July 30, making the deal one of Hong Kong’s largest listings in years.
Demand was already visible before the debut: the retail tranche was 9.17 times oversubscribed and attracted HK$55.99 billion in margin loans. Hong Kong Exchanges and Clearing also plans to introduce options and short-selling eligibility for the shares on their first trading day.
Zhongji Innolight makes optical transceivers that convert electrical and optical signals for high-speed data transmission. Its products are used in data centers, cloud infrastructure and AI systems, linking servers and other network equipment through fiber-optic networks. [The Standard]