Zhongji Innolight had told investors that it would lower its offer price to HK$980 per share as the company eyes Hong Kong's largest listing in seven years, bringing its fundraising amount to around HK$53.4 billion, Bloomberg reported.
Its initial maximum price was set at HK$1,010, which the Chinese optical parts maker, one of Nvidia's major suppliers, said last week that it would raise up to HK$55.05 billion through selling 54.5 million Hong Kong shares.
Zhongji Innolight's retail tranche for its Hong Kong initial public offering was oversubscribed 9.17 times so far, drawing HK$55.99 billion in margin loans.
The company's Shenzhen-listed shares closed at 1,046.51 yuan (HK$1,211.99) on the A-share market last Friday. In other words, the offering price is expected to be at a discount of about 19 percent to its A-share price.
Meanwhile, the Hong Kong Exchanges and Clearing (0388) said on Monday that it will introduce weekly and monthly options to enhance product offering for investors on Zhongji Innolight's Thursday debut. Issuers can also list derivative warrants on Zhongji Innolight shares when the shares debut on HKEX's securities market. It will also be included in HKEX's designated securities eligible for short selling upon its debut.
