Innolight stock jumps after approval for up to $8 billion Hong Kong IPO
What’s new: The deal could become Hong Kong’s biggest listing since Alibaba’s 2019 share sale and the city’s largest this year.
Shares of Zhongji Innolight rose Monday after the Chinese optical transceiver maker won approval for a Hong Kong listing that could raise as much as $8 billion. The Shenzhen-listed company has begun analyst meetings and is gauging investor demand, with orders potentially starting as soon as the week of July 20, according to Bloomberg-reported deal terms. If completed at that size, the offering would top Luxshare Precision’s $3.1 billion IPO earlier this month and rank as Hong Kong’s biggest listing since Alibaba Group Holding raised $12.9 billion in 2019. Innolight is part of a broader wave of AI supply-chain companies driving a strong year for Hong Kong share sales.