Zhongji Innolight Sets HK IPO at HK$980, Raises HK$53.4 Billion, A-Share Falls Over 15% on Same Day
Zhongji Innolight priced its Hong Kong IPO at HK$980 per share, raising HK$53.4 billion, making it the largest IPO in Hong Kong this year. The company's H-shares are set to begin trading on July 30. On the same day, its A-shares plunged over 15% to close at RMB 908. The listing follows a series of major Hong Kong IPOs in recent years, including JD. com, Kuaishou, and CATL, which saw varied post-listing performances.
Zhongji Innolight's H-shares will begin trading on July 30. On the same day, its A-shares fell over 15% to close at RMB 908.
Past Hong Kong IPOs with the highest annual fundraising amounts have shown varied performances after listing. In 2020, JD. com listed in Hong Kong at an issue price of HK$226, raising about HK$34 billion, and its share price later rose to a high of HK$404 by February 2021. In 2021, Kuaishou listed at an offer price of HK$115, raising over HK$40 billion, and its share price rose to a high of HK$416.65 before retreating. In 2022, China Tourism Group Duty Free listed at HK$158, raising about HK$18.4 billion. In 2023, Zhenjiu Lidu raised HK$5.3 billion at an issue price of HK$10.82, and its shares fell below the issue price after listing. In 2024, Midea Group listed at HK$54.8, raising HK$35.666 billion, and its shares briefly fell below the issue price on the first day before later rising to HK$92 along with the market. In 2025, CATL raised HK$41 billion in its H-share listing at an issue price of HK$263, and its shares rose to a high of HK$794.5 this year.