Zhongji Innolight sets its offer price at $980, raising $53.4 bln

Chinese optical part maker Zhongji Innolight said on Tuesday that it has priced its H shares at HK$980 per share, below its initial maximum price of HK$1,010 announced last week.

The company plans to issue 54.5 million Hong Kong shares, raising up to HK$53.41 billion. The minimum price is HK$49,494 per 50 shares. The fundraising amount makes it Asia's second-largest listing this year, trailing only ChangXin Memory Technologies, which raised about HK$67.08 billion in its initial public offering on the Shanghai STAR market.

Zhongji Innolight is scheduled to debut on Thursday, which is poised to become Hong Kong's biggest share sale in nearly seven years.

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