Ligent Technologies, a Qingdao-based maker of optical transceivers and chips for data center networks, will start trading in Hong Kong on September 22 after raising HK$5.7 billion, or US$727 million, in an initial public offering.

The company sold 172 million shares at HK$32.96 (US$4.2) each.

Cornerstone investors, which agree to hold shares for at least six months in exchange for guaranteed allocations, took about 47% of the base offering.

They include Primavera Investment Fund, GigaDevice Semiconductor, and a unit of Amlogic Shanghai.

Ligent said the proceeds will fund research and development and expand production capacity for optical transceivers and optical chips.

The listing adds to a wave of AI infrastructure listings in Hong Kong this year.

🔗 Source: Bloomberg