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Zhongji Innolight slips 1.28% on Hong Kong debut after $6.8B IPO
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Shares of Zhongji Innolight, a Chinese optical transceiver maker and key supplier to AI data centers, fell 1.28% on its Hong Kong Stock Exchange debut on Thursday. The company raised HK$53.4 billion ($6.8 billion) after pricing its IPO at HK$980 per share, below the maximum indicated price of HK$1,010. The deal is Asia's second-largest listing this year, trailing only Chinese memory-chip maker CXMT's $8.6 billion Shanghai listing. Zhongji, already listed in Shenzhen, is the world's largest provider of optical interconnect solutions by revenue, holding 21.2% of the global market in 2025. The Hong Kong tranche saw strong demand with orders 16.8 times the shares available to retail investors, while international orders were 9.7 times. Proceeds will fund R&D, overseas production capacity expansion, supply chain strengthening, and potential acquisitions.
Source report
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's $8.6 billion Shanghai listing.
Key Details
- Market debut: Shares fell 1.28% on the first day of trading.
- IPO size: HK$53.4 billion ($6.8 billion), priced at HK$980 per share.
- Regional ranking: Second-largest listing in Asia this year.
Company Profile
Zhongji, which is also listed in Shenzhen, supplies components used in artificial intelligence data centers, cloud computing, and high-speed networking.
The company is 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.
Investor Demand
- Hong Kong tranche: Orders for roughly 16.8 times the shares available to retail investors.
- International tranche: Orders for 9.7 times the shares available.
Use of Proceeds
Zhongji plans to use the proceeds to:
- Fund research and development
- Expand overseas production capacity
- Strengthen its supply chain
- Pursue potential acquisitions
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Source
US Top News and AnalysisWestern
Part of this Story
Zhongji Innolight's $6.8B Hong Kong IPO, Largest in 2026