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A Chinese manufacturer of optical components for AI data centres on Wednesday started taking orders for a listing that could be Hong Kong’s biggest in nearly seven years.
The Shenzhen-listed Zhongji InnoLight said in a market filing that it was seeking to raise up to HK$55 billion (US$7 billion) on the Hong Kong stock exchange.
That would mark the city’s largest share sale since Chinese tech behemoth Alibaba’s mega US$12.9 billion listing in 2019.
Zhongji InnoLight is the world’s largest maker of optical transceivers, according to its listing document.
The devices convert electrical and light signals into each other to transmit vast amounts of digital information through optical fibers, and are essential parts in artificial intelligence data centres.
China and the United States are locked in a race for dominance in the fast-moving AI field, fuelling huge global expansion of data centres — warehouse-like facilities crammed with computer servers.
The listing, expected to take place on July 30, is the latest in a recent run of blockbuster debuts from Chinese AI-related companies in Hong Kong, indicating optimism for China’s ambitions in the sector.
Zhongji InnoLight is offering 54.5 million shares at up to HK$1,010 (US$129) each.
Post by News Desk
