On July 21, people familiar with the matter said that BlackRock, Hillhouse, and Temasek are poised to become cornerstone investors for Zhongji Innolight's potential $8 billion Hong Kong IPO. Investment institutions including Sibo Investment, J.P. Morgan Asset Management, Wellington Management Co., and Yunfeng Capital also plan to participate as cornerstone investors, with these cornerstone investors expected to subscribe for nearly half of the shares. Zhongji Innolight plans to start accepting investor subscriptions as early as Wednesday, which is expected to be the largest equity offering in Hong Kong in seven years. The base offering size is approximately $7 billion, but an over-allotment option could bring the final size to $8 billion. According to Bitget market data, Zhongji Innolight (300308.SZ) is currently the largest weight stock in the CSI 300 Index. As a major supplier of AI optical modules, driven by the explosive demand for AI infrastructure, its market capitalization and index weight have risen rapidly, surpassing CATL to become the largest weight stock in the CSI 300 Index between May and June 2026. Its core business covers optical communication devices and intelligent equipment, with products used in cloud data centers, AI computing clusters, wireless communications, and metropolitan and backbone networks.
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Hong Kong stock market to see largest equity offering in nearly seven years; BlackRock, Hillhouse, and Temasek to become cornerstone investors for Zhongji Innolight's Hong Kong listing
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