Chinese optical parts maker Zhongji Innolight said on Tuesday it had priced its Hong Kong listing at HK$980 per H share, raising HK$53.41 billion ($6.81 billion) in Asia’s second-largest listing this year.
Company Overview
Zhongji Innolight manufactures optical transceivers, devices that enable high-speed data transmission through fibre-optic cables. The components are widely used in data centres, cloud computing networks and AI systems.
The listing coincides with China’s push to cultivate domestic AI champions as U.S.-led export controls restrict access to advanced semiconductors, and comes amid a wave of fundraising by Chinese technology firms in Hong Kong’s buoyant equity market.
Zhongji Innolight has said proceeds from the listing will be used for research and development, global manufacturing expansion, supply-chain upgrades, acquisitions and general working capital purposes.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
