Ligent Technologies Launches HK$5.7 Billion IPO, Lures GigaDevice as Cornerstone Investor
Ligent Technologies (HKG:9856) launched its Hong Kong initial public offering on Monday, seeking to raise up to HK$5.7 billion.The Hisense-controlled optical communication products maker is offering over 172 million shares at HK$32.96 apiece, according to a bourse filing.The share allocation results are expected by Sept. 21, and the company will begin trading on the HKEX on Sept. 22.Net proceeds will be used to strengthen the company's R&D, increase production capacity of optical transceivers and optical chips, grow its international presence, and for general corporate purposes.The IPO has attracted 24 cornerstone investors, including chipmakers GigaDevice (SHA:603986, HKG:3986) and Amlogic (SHA:688099), as well as asset manager Barings, which committed to subscribe for shares totaling HK$2.7 billion.Citigroup Global Markets Asia, CLSA, GF Securities Hong Kong, and Futu Securities International Hong Kong are acting as overall coordinators and joint global coordinators.
