China's Zhongji Innolight Co. has started taking investor orders for a Hong Kong listing to raise as much as HK$55 billion ($7 billion), the city's biggest in seven years.

The optical transceiver maker's share sale marks Hong Kong's largest initial public offering since 2018, signaling renewed confidence in the financial hub's capital markets. Innolight, a key supplier for AI data centers, aims to capitalize on surging demand for high-speed optical connectivity.

The offering size could make it one of the year's largest technology listings globally. Proceeds will fund research and development, expand production capacity, and support working capital needs as the company scales to meet AI infrastructure demand.