Nvidia's Chinese supplier Zhongji Innolight eyes HK's biggest IPO since Alibaba, raising US$8 bln

Zhongji Innolight, a major supplier to Nvidia and one of China's largest A-share companies with a market capitalization exceeding 1.1 trillion yuan (HK$1.27 trillion), reportedly began its pre-listing roadshow on Monday to gauge investor interest and is on track to become another mega-sized initial public offering in Hong Kong.

The company has passed its listing hearing. It is expected to raise up to US$8 billion (HK$62.4 billion), with bookbuilding potentially starting as early as this week, putting its Hong Kong listing on the final stretch.

If completed, Zhongji Innolight is poised to become Hong Kong's largest IPO since Alibaba (9988) in 2019. CICC, GF Securities, Goldman Sachs, and Morgan Stanley are acting as joint sponsors. It is also reported that the company secretly submitted its listing application in early April.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓