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Market Chatter: Zhongji Innolight Confidentially Files For Up to $7 Billion Hong Kong IPO

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Zhongji Innolight (SHE:300308) has confidentially filed for a Hong Kong initial public offering that could raise as much as $7 billion, Reuters reported Tuesday, citing sources with direct knowledge of the matter.

The Chinese optical parts maker could launch its IPO as early as mid-July after securing clearance from Chinese regulators for an additional listing by late June, the report said.

The firm had initially planned to raise about $5 billion but upsized the potential IPO to $7 billion after strong investor interest during roadshows, one of the sources told the news agency.

Zhongji Innolight did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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