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Zhongji Innolight jumps 8% on $8 billion HK listing approval
Optical transceiver firm's IPO would be Hong Kong's largest this year, exceeding Luxshare Precision's $3.1 billion deal. KPMG says pipeline is strong.
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Shares of China's Zhongji Innolight surged as much as 8% Monday before paring some gains. The company received approval for a Hong Kong listing worth up to $8 billion on Friday, people familiar with the matter told Bloomberg.
The optical transceivers firm has started gauging investor interest. Details such as size and timing may change while deliberations are ongoing, the people said.
The deal size will exceed Luxshare Precision's $3.1 billion IPO earlier this month. That would make it the largest listing in Hong Kong this year.