Shenzhen-listed Eoptolink Technology, a Chinese maker of optical transceivers, has filed confidentially for a Hong Kong share sale that could raise US$4 billion to US$5 billion, according to people familiar with the matter.

Morgan Stanley has joined Citic Securities and JP Morgan Chase on the deal, though the offering size could still change.

Eoptolink is pursuing the listing as AI data center spending boosts demand for transceivers that connect graphics processing units, or GPUs, in AI clusters.

Despite a drop this month, Eoptolink’s Shenzhen shares have risen almost 300% in the past year, giving the company a market value of more than US$100 billion.

Eoptolink also posted record profit last year and a jump in first-quarter earnings.

Eoptolink follows competitors Zhongji Innolight and Suzhou TFC Optical Communication in seeking a Hong Kong listing.

🔗 Source: Bloomberg