By Yantoultra Ngui and Roshan Thomas
SINGAPORE, July 28 (Reuters) - Chinese optical parts maker Zhongji Innolight said on Tuesday it had priced its Hong Kong listing at HK$980 per H share, raising HK$53.41 billion ($6.81 billion) in Asia's second-largest listing this year.
The Shenzhen-listed company sold 54.5 million Hong Kong shares in the deal. The final offer price was below the maximum limit of HK$1,010 set when the deal was launched last week.
The listing is poised to become Hong Kong's biggest
share sale in nearly seven years, since Alibaba's $12.9 billion secondary listing in 2019, according to LSEG data.
The deal ranks second among Asia's share offerings this year, trailing only Chinese chipmaker CXMT Corp's $8.6 billion Shanghai IPO. CXMT shares soared 466% in their market debut on Monday.
Zhongji Innolight manufactures optical transceivers, devices that enable high-speed data transmission through fibre-optic cables. The components are widely used in data centres, cloud computing networks and AI systems.
The listing coincides with China's push to cultivate domestic AI champions as U.S.-led export controls restrict access to advanced semiconductors, and comes amid a wave of fundraising by Chinese technology firms in Hong Kong's buoyant equity market.
At the same time, volatility in global chip stocks has tested investor demand for AI-focused companies.
Zhongji Innolight has said proceeds from the listing will be used for research and development, global manufacturing expansion, supply-chain upgrades, acquisitions and general working capital purposes.
Shares are due to start trading in Hong Kong on July 30.
Zhongji Innolight's first-quarter net profit nearly quadrupled to 6.32 billion yuan ($934.12 million) from 1.69 billion yuan a year earlier, while revenue nearly tripled to 19.5 billion yuan from 6.67 billion yuan, its filings showed.
The company said the growth was driven by stronger demand from major customers investing in AI infrastructure.
The company generated 61.7% of its revenue from the U.S. in the first quarter of 2026.
Zhongji Innolight has said its inclusion on a U.S. Department of Defense list of "Chinese military companies" in June does not, by itself, restrict business with U.S. customers or trading in its securities.
($1 = 6.7657 Chinese yuan renminbi)
($1 = 7.8413 Hong Kong dollars)
(Reporting by Yantoultra Ngui in Singapore and Roshan Thomas in Bengaluru; Editing by Shailesh Kuber and Jamie Freed)
