China's Zhongjitec Lists on Hong Kong Exchange at Max HK$1,010 Per Share, Raising Up to $7 Billion

According to BlockBeats, on July 22, China's leading optical module maker Zhongjitec announced plans to list on Hong Kong's stock exchange, issuing 54.5 million shares at a maximum price of HK$1,010 per share. The offering is expected to raise up to HK$55 billion (approximately $7 billion), with trading set to begin on July 30.

The company has attracted cornerstone investors including BlackRock, Hillhouse Capital, and Temasek, alongside institutional investors such as Schroders, Morgan Asset Management, Wellington Management, and Cloud Summit Fund. These cornerstone investors are expected to subscribe for approximately half of the shares offered. The deal marks Hong Kong's largest stock offering in seven years.