Zhongji Innolight Shares Surge on Major Hong Kong Listing Approval
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Zhongji Innolight's shares surged after receiving approval for a major Hong Kong listing worth up to $8 billion, potentially the city's largest this year, as the Chinese optical transceivers firm gauges investor interest.
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Zhongji Innolight received approval for a major Hong Kong listing, potentially worth up to $8 billion, which would be one of the city's biggest in years. Hong Kong's IPO market is experiencing a strong period, driven by Chinese AI supply chain companies.
Shares of China's Zhongji Innolight surged as much as 8% Monday before paring some gains, after the company received approval for a major Hong Kong listing worth up to $8 billion on Friday, in what is likely to be one of the city's biggest in years.
The Chinese optical transceivers firm has started to gauge interest from investors, and details such as size and timing may change while deliberations are ongoing, Bloomberg reported, citing people familiar with the matter.
The deal size will exceed Luxshare Precision's $3.1 billion IPO earlier this month, making it the largest listing in Hong Kong this year.
Innolight didn't immediately respond to a request for comment.
Hong Kong is seeing a wave of listings from Chinese companies that are involved in the artificial intelligence supply chain.
Hong Kong's IPO market, which has raised HK$209.9 billion raised across 85 new listings, is the strongest first-half result in five years, according to a report by KPMG.
"Looking ahead, the market boasts a record-breaking pipeline of over 500 active IPO applicants (including confidential filings)," KPMG said, adding that tech companies will continue to be one of the main growth engines of the city's IPO market.
Zhongji Innolight shares last traded 4.7% higher.
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Tech companies will continue to be main growth engines for Hong Kong's IPO market.
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Açık Sorular
- What are the final size and timing of the listing?
- Which investors are gauging interest?
- What is Innolight's official comment?
