Innolight said to price Hong Kong IPO below maximum, Bloomberg News reports
FILE PHOTO: People walk past screens displaying the Hang Seng stock index and stock prices outside the Exchange Square in Hong Kong, China January 23, 2024. REUTERS/Joyce Zhou/File Photo
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July 27 : Chinese optical parts maker Zhongji Innolight is telling potential investors it will price its Hong Kong listing below the maximum, Bloomberg News reported on Monday, citing people familiar with the matter.
Shenzhen-listed Innolight is set to price 54.5 million shares at HK$980 ($124.96) apiece, the report said.
Reuters could not immediately verify the report. Innolight did not immediately respond to a request for comment.
Innolight is selling the shares at a maximum price of HK$1,010 each. The listing is set to be the city’s biggest share sale in nearly seven years, since Alibaba raised $12.9 billion in its secondary listing in 2019, according to LSEG data.
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The deal ranks as Asia’s second-largest listing this year after Chinese chipmaker CXMT’s $8.6 billion Shanghai IPO. CXMT’s shares surged 470 per cent at their Shanghai debut.
Zhongji Innolight makes optical transceivers, small devices that help move large amounts of data through fibre optic cables.
($1 = 7.8422 Hong Kong dollars)
Source: Reuters
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