Zhongji Innolight Targets $8 Billion Hong Kong IPO — City's Largest Since Alibaba

Zhongji Innolight, the world's leading optical module maker, plans an $8 billion Hong Kong IPO priced up to HK$1,010 per share, Reuters reported July 21. That would be Hong Kong's biggest listing since Alibaba in 2019. AI data centre demand for high-speed optical transceivers — components that move data between servers — is powering the deal, which rose from $7 billion in five days.