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Zhongji Innolight Plans $7B Hong Kong Listing

Wall Street Journal Markets •
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Zhongji Innolight, a Chinese provider of high-speed optical interconnect solutions, plans to raise more than US$7.02 billion in a Hong Kong public offering that would be the city's largest listing so far this year. The Shenzhen-listed company said Wednesday that it plans to raise as much as 55.04 billion Hong Kong dollars.

Zhongji Innolight plans to offer 54.5 million H shares at a maximum offer price of HK$1,010 each. Its shares are expected to start trading on the Hong Kong Exchange on July 30.

The city's biggest listing so far this year is that of Apple supplier Luxshare Precision Industry, which raised US$3.07 billion earlier this month. Zhongji Innolight's offering would more than double that amount, highlighting strong investor appetite for Chinese technology firms despite regulatory uncertainties.