AI optical parts maker Zhongji Innolight eyes up to $7 billion Hong Kong listing, source says

By Yantoultra Ngui and Kane Wu

SINGAPORE/HONG KONG, June 16 (Reuters) - Chinese optical parts shaper Zhongji Innolight is readying to motorboat a stock listing successful Hong Kong ‌as aboriginal arsenic mid-July that could rise up to $7 billion, 2 sources with nonstop ‌knowledge of the substance said.

The Shenzhen-listed company, which makes optical modules utilized successful AI information centres, initially aimed to ​raise astir $5 billion, but the people has since risen to astir $7 cardinal aft beardown capitalist involvement during roadshows, 1 of the radical said.

Zhongji Innolight hopes to person clearance from Chinese regulators for the 2nd listing by precocious June, 1 of the radical said. Chinese companies request to implicit ‌a listing filing with the China ⁠Securities Regulatory Commission earlier they tin merchantability shares offshore.

The institution has confidentially filed for the listing, some sources said.

All the sources declined to beryllium ⁠named arsenic the substance is private.

Zhongji Innolight did not instantly respond to a petition for comment.

A listing of that size would beryllium Hong Kong's biggest this twelvemonth and the largest Chinese exertion listing ​in the ​city successful astatine slightest the past 12 months, ​according to LSEG information arsenic of ‌June 11.

It would beryllium much than doubly the size of Victory Giant Technology (Huizhou)'s $2.73 cardinal Hong Kong 2nd listing successful April, presently the biggest Chinese tech stock merchantability successful the metropolis implicit that period, the information showed.

TECHNOLOGY LISTINGS BOOST FOR HONG KONG

The planned listing would assistance enactment the revival successful Hong Kong's marketplace for Chinese exertion stock sales.

Chinese exertion IPOs and 2nd listings successful ‌Hong Kong person raised $11.24 cardinal truthful acold this year, ​up from $235.6 cardinal successful the aforesaid play past year, ​according to LSEG.

Separately, Shenzhen-listed electronics shaper ​and Apple supplier Luxshare Precision Industry Co is preparing capitalist acquisition for ‌a listing successful Hong Kong that could ​raise astir $3 billion, according ​to the archetypal root who has nonstop cognition of the matters. It could motorboat arsenic aboriginal arsenic July, the root said.

Luxshare did not instantly respond to a petition for ​comment.

The institution said connected June ‌12 it had received CSRC filing confirmation for a planned Hong Kong listing ​of up to 441 cardinal shares.

(Reporting by Yantoultra Ngui successful Singapore and Kane ​Wu successful Hong Kong; Editing by Emelia Sithole-Matarise)