Zhongji Innolight has raised $8.8 billion through its Hong Kong initial public offering, cementing the deal as the second-largest listing in Asia for 2026.
The transaction is poised to become the largest share sale in Hong Kong in nearly seven years, underscoring renewed investor appetite for high-growth technology equities in the region despite broader market volatility.
Shares of Zhongji Innolight had previously surged as much as 8% in early trading after the company secured regulatory approval for the listing, which was initially valued at up to $8 billion.
The Shenzhen-based optical component manufacturer, a key supplier in the data-center infrastructure chain, secured the capital by pricing its offering below the top end of its indicative range.
This pricing strategy reflects a cautious but supportive market environment, where investors are balancing strong demand for AI-related hardware against valuation concerns.
The successful execution of such a large-scale listing signals confidence in the company's growth trajectory and the broader resilience of Asian capital markets.
Shares of Zhongji Innolight had previously surged as much as 8% in early trading after the company secured regulatory approval for the listing, which was initially valued at up to $8 billion.