Innolight exchange hearing may take place this week - sources

Zhongji Innolight (300308.SZ), a leading Chinese manufacturer of optical modules used in AI data centers, is preparing for a potential exchange hearing related to its planned Hong Kong listing, according to sources with direct knowledge. The company, which is already listed in Shenzhen, aims to raise up to $7 billion in the offering, a figure that has increased from an initial target of $5 billion due to strong investor demand during roadshows.

The listing is expected to be one of the largest Chinese technology offerings in Hong Kong in at least the past 12 months and could boost the city’s market for Chinese tech listings. Chinese technology IPOs and secondary listings in Hong Kong have raised $11.24 billion so far this year, compared to just $235.6 million in the same period last year.

Zhongji Innolight has confidentially filed for the listing with the Hong Kong exchange and is awaiting regulatory approval from the China Securities Regulatory Commission. The company has not yet responded to requests for comment.

Separately, another Shenzhen-listed firm, Luxshare Precision Industry Co (002475.SZ), is also preparing for a Hong Kong listing that could raise up to $3 billion.