SerpApi.Org
Zhongji Innolight, a Chinese provider of high-speed optical interconnect solutions, plans to raise more than US$7 billion in a Hong Kong public offering that would be the city’s largest listing so far this year.
The Shenzhen-listed company said Wednesday that it plans to raise as much as 55.04 billion Hong Kong dollars, equivalent to US$7.02 billion.
Zhongji Innolight plans to offer 54.5 million H shares at a maximum offer price of HK$1,010 each. Its shares are expected to start trading on the Hong Kong Exchange on July 30.
The city’s biggest listing so far this year is that of Apple supplier Luxshare Precision Industry, which raised US$3.07 billion earlier this month.
Hong Kong has been one of the world’s busiest places for listings this year, fueled by a fundraising frenzy largely driven by Chinese companies associated with the artificial-intelligence, biotechnology, and pharmaceutical sectors.
According to the city’s stock-exchange data, 40 companies have raised more than US$14 billion through listings in the first three months of this year, marking the strongest first-quarter performance since 2021.
Write to P.R. Venkat at [email protected]