China’s Zhongji Innolight, a Shenzhen-listed maker of optical transceivers, plans to launch a Hong Kong share sale on July 22, to raise at least US$8 billion, according to three sources.

If completed, it would be Hong Kong’s biggest share sale since Alibaba Group’s 2019 listing, and Asia’s second-largest listing this year after CXMT Corp’s US$8.6 billion Shanghai STAR Market initial public offering.

The company makes optical transceivers, small devices used in data centers, cloud networks, and AI computing systems.

Its draft prospectus said it had been the world’s largest optical interconnect solutions provider by revenue for five straight years since 2021, citing consultant CIC.

The sources said the Hong Kong shares may be priced at up to HK$1,010 (US$130) each, a 13.2% discount to the closing price of Zhongji’s Shenzhen-listed stock on July 20, compared with an earlier indicated range of 15% to 20%.

The prospectus showed Zhongji’s revenue rose 192% to 19.5 billion yuan (US$2.88 billion) in the three months ended March 31.

Profit jumped 274% to 6.3 billion yuan (US$934 million). The US accounted for 61.7% of the company’s revenue in that period.

🔗 Source: Reuters