Optical module leader Zhongji Xuchuang H shares will be listed and traded in Hong Kong on Thursday. The biggest IPO in Hong Kong in seven years will be tested by the market at a time of turmoil in the artificial intelligence sector. The issue price of Zhongji Xuchuang Hong Kong shares was HK$980 per share, which is below the upper end of the guidance range, and is about 11% off the latest closing price of RMB 951 for its A-shares listed in Shenzhen; its H shares fell 3.8% in the Hong Kong dark market on Wednesday. The basic capital raised in this offering reached HK$53.4 billion. If the over-allotment rights are fully exercised, the total issuance scale will further increase to about HK$61.4 billion, making it the largest stock offering in Hong Kong since Alibaba in 2019.

Optical module leader Zhongji Xuchuang H shares will be listed and traded in Hong Kong on Thursday. The biggest IPO in Hong Kong in seven years will be tested by the market at a time of turmoil in the artificial intelligence sector. The issue price of Zhongji Xuchuang Hong Kong shares was HK$980 per share, which is below the upper end of the guidance range, and is about 11% off the latest closing price of RMB 951 for its A-shares listed in Shenzhen; its H shares fell 3.8% in the Hong Kong dark market on Wednesday. The basic capital raised in this offering reached HK$53.4 billion. If the over-allotment rights are fully exercised, the total issuance scale will further increase to about HK$61.4 billion, making it the largest stock offering in Hong Kong since Alibaba in 2019.