MarketPR
A Hong Kong listing approval for Zhongji Innolight sent shares higher and positioned the Chinese company's pending offering above every other transaction on this year's Hong Kong calendar.
The deal is expected to exceed Luxshare Precision's $3.1 billion IPO, which priced earlier this month. That would hand Zhongji Innolight the largest Hong Kong listing of the year.
The $3.1 billion comparison Luxshare Precision's deal set the line for Hong Kong primary issuance in the current year. Zhongji Innolight is tracking to clear it.
Two large transactions at the same exchange in the same month, with the second positioned above the first, tells the tape that the window that allowed Luxshare Precision to price at $3.1 billion did not close behind it.
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