Zhongji Innolight, the Shenzhen-listed optical communications company that has quietly become one of the most important suppliers in the AI data center supply chain, has received approval to pursue a major secondary listing on the Hong Kong Stock Exchange. The deal could raise up to $7 billion, making it one of the biggest listings Hong Kong has seen in years.
From $3 billion to $7 billion: demand does its thing
Innolight initially filed confidentially for the Hong Kong listing back in April 2026, targeting at least $3 billion in fundraising. But during roadshows, demand from institutional investors ran so hot that the company more than doubled its target to up to $7 billion.
The listing process has been facilitated by a heavyweight roster of banks, including Goldman Sachs, Morgan Stanley, China International Capital Corp (CICC), and GF Securities.
As of mid-July 2026, reports indicated that Innolight was poised for approval from China’s securities regulator, the CSRC, which would clear the path for an HKEX hearing. That approval has now materialized, moving the company one significant step closer to its Hong Kong debut.
