Chinese Firms Target $842 Million in Hong Kong IPO Wave

Ligent Technologies, a Qingdao-based provider of optical components for artificial intelligence data centers, plans to raise approximately $723 million. By offering 172 million shares at HK$32.96 each, the company intends to channel proceeds into research, development, and the automation of its semiconductor production lines.

Shenzhen Forms Syntron Information is simultaneously pursuing a capital injection of up to HK$943.4 million. The fintech firm, which already maintains a presence on the Shenzhen exchange, will offer 59 million shares capped at HK$16.00 apiece. Management plans to deploy these funds to bolster software delivery capabilities and extend its sales footprint across domestic and overseas banking sectors.

Both offerings are slated to close this Thursday, with trading on the Hong Kong exchange scheduled to commence on September 22. This activity follows a period of intense growth for the local bourse, where IPO proceeds reached HK$342.4 billion between January and August, more than doubling the volume recorded during the same timeframe last year.