China’s Zhongji Innolight, a manufacturer of optical transceivers, will launch a Hong Kong listing on Wednesday and is seeking to raise at least $8 billion, according to three sources with direct knowledge of the matter.
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Zhongji Innolight did not immediately respond to a request for comment from Reuters. The deal will be Hong Kong’s largest share sale in nearly seven years since Alibaba Group’s $12.9 billion listing in 2019.
Zhongji makes optical transceivers, small devices that turn electrical signals into light signals and back again. They help move large amounts of data through fibre-optic cables and are used in data centers, cloud networks and AI computing systems.
Hong Kong new listings have raised $33.8 billion so far this year, more than double the $16.4 billion raised in the same period last year, according to LSEG data.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
