Zhongji Innolight surges up to 8% after getting Hong Kong listing approval

Published Jul 20, 04:09 AM UTC

Shares of China's Zhongji Innolight surged up to 8% on Monday after receiving approval for a major Hong Kong listing worth up to $8 billion on Friday. The Chinese optical transceivers firm, which is part of the artificial intelligence supply chain, has started gauging investor interest. The deal is expected to exceed Luxshare Precision's $3.1 billion IPO earlier this month, making it the largest listing in Hong Kong this year. The news comes as Hong Kong's IPO market reaches its strongest first-half result in five years, with HK$209.9 billion raised across 85 new listings. KPMG reported a record pipeline of over 500 active IPO applicants, with tech companies expected to remain key growth drivers. Zhongji Innolight shares last traded 4.7% higher.