AI optical parts maker Zhongji Innolight eyes up to $7 billion Hong Kong listing, source says
SINGAPORE/HONG KONG, June 16 (Reuters) - Chinese optical parts maker Zhongji Innolight is planning to launch a share listing in Hong Kong as early as mid-July that could raise up to $7 billion, two sources with direct knowledge of the matter said. The Shenzhen-listed company,
SINGAPORE/HONG KONG, June 16 (Reuters) - Chinese optical parts maker Zhongji Innolight is planning to launch a share listing in Hong Kong as early as mid-July that could raise up to $7 billion, two sources with direct knowledge of the matter said.
The Shenzhen-listed company, which makes optical modules used in AI data centres, initially aimed to raise about $5 billion, but the target has since risen to about $7 billion after strong investor interest during roadshows, one of the people said.
Zhongji Innolight hopes to receive clearance from Chinese regulators for the second listing by late June, one of the people said. Chinese companies need to complete a listing filing with the China Securities Regulatory Commission before they can sell shares offshore.
The company has confidentially filed for the listing, both sources said.
All the sources declined to be named as the matter is private.
Zhongji Innolight did not immediately respond to a request for comment.
A listing of that size would be Hong Kong's biggest this year and the largest Chinese technology listing in the city in at least the past 12 months, according to LSEG data as of June 11.
It would be more than twice the size of Victory Giant Technology (Huizhou)'s $2.73 billion Hong Kong second listing in April, currently the biggest Chinese tech share sale in the city over that period, the data showed.
