Zhongji Innolight, an optical parts manufacturer already listed on the Shenzhen Stock Exchange, announced plans to raise up to HK$55.05 billion (approximately US$7 billion) through a Hong Kong share listing. The company will offer 54.5 million Hong Kong‑listed shares at a maximum price of HK$1,010 per share. A 15 percent over‑allotment option is available, which, if fully exercised, could increase total proceeds to HK$63.3 billion (about US$8.1 billion).
If executed at the target size, the transaction would become Hong Kong’s largest share sale since Alibaba Group’s US$12.9 billion offering in 2019 and would rank as the second‑largest initial public offering in Asia for the current year, trailing only CXMT Corp’s US$8.6 billion listing on the Shanghai STAR Market.
The offering has attracted cornerstone commitments from a range of institutional investors, including Singapore’s sovereign fund Temasek, HHLR Advisors, JPMorgan Asset Management, BlackRock, Abu Dhabi Investment Authority, Wellington Management, Bain Capital, Boyu Capital, Alibaba, Tencent, Canada Pension Plan Investment Board (CPP Investments), Oaktree Capital Management and General Atlantic.
Zhongji Innolight manufactures optical transceivers that enable high‑volume data transmission over fibre‑optic cables, with applications in data centres, cloud networks and artificial‑intelligence computing systems. The share sale is part of a broader wave of new listings by Chinese technology firms seeking to leverage rising investor optimism around AI, with Hong Kong serving as a key venue for such capital‑raising activities.