Hong Kong · China · CNBC Technology
China's Zhongji Innolight sees shares surge after Hong Kong listing approval
Compiled by KHAO Editorial — aggregated from 1 source + 3 references discovered via search. See llms.txt for citation guidance.
◎ Multiple-sources
Shares of China's Zhongji Innolight surged as much as 8% Monday before paring some gains, after the company received approval for a major Hong Kong listing worth up to $8 billion on Friday, in what is likely to be one of the city's biggest in years.
Key facts
- Hong Kong's IPO market, which has raised HK$209.9 billion raised across 85 new listings, is the strongest first-half result in five years, according to a report by KPMG
- The deal size will exceed Luxshare Precision's $3.1 billion IPO earlier this month, making it the largest listing in Hong Kong this year
- Looking ahead, the market boasts a record-breaking pipeline of over 500 active IPO applicants (including confidential filings)," KPMG said, adding that tech companies will continue to be one
- Hong Kong is seeing a wave of listings from Chinese companies that are involved in the artificial intelligence supply chain
Summary
The Chinese optical transceivers firm has started to gauge interest from investors, and details such as size and timing may change while deliberations are ongoing, citing people familiar with the matter. The deal size will exceed Luxshare Precision's $3.1 billion IPO earlier this month, making it the largest listing in Hong Kong this year. Hong Kong is seeing a wave of listings from Chinese companies that are involved in the artificial intelligence supply chain. Hong Kong's IPO market, which has raised HK$209.9 billion raised across 85 new listings, is the strongest first-half result in five years, according to a report by KPMG.