Zhongji Innolight, the Chinese company that makes the optical modules powering AI data centers worldwide, is gauging investor demand for a Hong Kong secondary listing that could raise as much as $7 billion to $8 billion. If it hits the upper end, this would be Hong Kong’s largest IPO of 2026, eclipsing Luxshare Precision’s $3.1 billion deal from earlier in July.
From confidential filing to blockbuster listing
Zhongji Innolight, already listed on the Shenzhen Stock Exchange under ticker 300308.SZ, filed confidentially with Hong Kong’s exchange back in April 2026. The initial target was a more modest $3 billion raise.
The company cleared its HKEX listing hearing on July 17, 2026, posting its formal post-hearing information the same day. Somewhere between filing and clearing, the deal size more than doubled.
The bank lineup includes Goldman Sachs, Morgan Stanley, CICC, and GF Securities, with those bank appointments announced as far back as November 2025.
