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- Shares of Zhongji Innolight fell on Thursday after the Chinese optical transceiver maker made its trading debut on the Hong Kong Stock Exchange.
- The deal was Asia’s second-largest listing this year, behind Chinese memory-chip maker CXMT $8.6 billion Shanghai listing.
The Zhongji Innolight logo is displayed on the screen of a tablet computer. Sopa Images | Lightrocket | Getty Images
Shares of Zhongji Innolight fell 1.28% on Thursday after the Chinese optical transceiver maker made its trading debut on the Hong Kong Stock Exchange.
The company raised HK$53.4 billion ($6.8 billion) after pricing its initial public offering at HK$980 per share, below the maximum indicated price of HK$1,010.
The deal was Asia’s second-largest listing this year, behind Chinese memory-chip maker CXMT $8.6 billion Shanghai listing.
Zhongji, which is also listed in Shenzhen, supplies components used in artificial intelligence data centres, cloud computing and high-speed networking.
The company is also the world’s largest provider of optical interconnect solutions by revenue, accounting for 21.2% of the global market in 2025, according to consultancy CIC as cited in its prospectus.
The Hong Kong tranche drew orders for roughly 16.8 times the shares available to retail investors, while for international it was 9.7 times.
Zhongji plans to use the proceeds to fund research and development, expand overseas production capacity, strengthen its supply chain and pursue potential acquisitions.
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