The Zhongji Innolight logo is displayed on the screen of a tablet computer. <\/p>\n
Sopa Images | Lightrocket | Getty Images<\/p>\n
Shares of Zhongji Innolight fell 5% on Thursday after the Chinese optical transceiver maker made its trading debut on the Hong Kong Stock Exchange.<\/p>\n
The company raised HK$53.4 billion ($6.8 billion) after pricing its initial public offering at HK$980 per share<\/a>, below the maximum indicated price of HK$1,010.<\/p>\n The deal was Asia’s second-largest listing this year, behind Chinese memory-chip maker CXMT $8.6 billion Shanghai listing.<\/p>\n Zhongji, which is also listed in Shenzhen, supplies components used in artificial intelligence data centers, cloud computing and high-speed networking.<\/p>\n The company is also the world’s largest provider of optical interconnect solutions by revenue, accounting for 21.2% of the global market in 2025, according to consultancy CIC as cited in its prospectus<\/a>.\u00a0<\/p>\n The Hong Kong tranche drew orders for roughly 16.8 times the shares available to retail investors, while for international it was 9.7 times.<\/p>\n Zhongji plans to use the proceeds to fund research and development, expand overseas production capacity, strengthen its supply chain and pursue potential acquisitions.\u00a0<\/p>\n