Zhongji Innolight slips 1.28% on Hong Kong debut after $6.8B IPO

Published Jul 30, 01:40 AM UTC

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.