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Ligent Technologies shares jump 19% in Hong Kong IPO debut

The Chinese fiber-optic gear maker's HK$5.7 billion listing rode investor appetite for AI data-center equipment suppliers.

newest coverage 1d agosummary written 1d ago6 pieces NewswiresMastodon

What to know

  • Ligent raised HK$5.67 billion ($722–727 million) and shares jumped as much as 19.2% on their Hong Kong debut, valuing the company at roughly HK$32.4 billion at offer price.
  • The IPO was heavily oversubscribed — 35.16 times in the public tranche and 4.67 times internationally — reflecting investor demand for AI data-center infrastructure suppliers.
  • Ligent plans to spend 52.9% of net proceeds on R&D for faster optical products and chips and 25.1% on expanding production capacity; Hisense Group Holding retains about 40.1% control.
  • An analyst cautioned that AI supply-chain valuations assume continued exponential compute-demand growth, creating de-rating risk if that growth decelerates.

“The company's vertical integration in the optical module manufacturing is a decent selling point despite the fact that its current shipment is still skewed towards the lower end of the optical module product spectrum”

Ke Yan, Head of research, Shenton Research · Reuters via Nikkei Asia ↗ · Sep 21

Ligent Technologies Chinese optical transceiver and AI networking equipment makerYu Zhitao Chairman and non-executive director of LigentHisense Group Holding Parent/controlling shareholder of LigentKe Yan Head of research, Shenton Research

Ligent Technologies shares jump 19% in Hong Kong IPO debut
asia.nikkei.com

How it unfolded 3 developments, newest first · click a bar or a number to jump articlesposts

Peak 3 pieces in one hour at Sep 22, 5 AM; 6 pieces over 2 days (5 articles · 1 post) Sep 21, 6 PM — 2 pieces · 1 article · 1 post — Mastodon 1, Newswires 1Sep 21, 7 PM — quietSep 21, 8 PM — quietSep 21, 9 PM — 1 piece · 1 article — Newswires 1Sep 21, 10 PM — quietSep 21, 11 PM — quietSep 22, 12 AM — quietSep 22, 1 AM — quietSep 22, 2 AM — quietSep 22, 3 AM — quietSep 22, 4 AM — quietSep 22, 5 AM — 3 pieces · 3 articles — Newswires 3Sep 22, 6 AM — quietSep 22, 7 AM — quietSep 22, 8 AM — quietSep 22, 9 AM — quietSep 22, 10 AM — quietSep 22, 11 AM — quietSep 22, 12 PM — quietSep 22, 1 PM — quietSep 22, 2 PM — quietSep 22, 3 PM — quietSep 22, 4 PM — quietSep 22, 5 PM — quietSep 22, 6 PM — quietSep 22, 7 PM — quietSep 22, 8 PM — quietSep 22, 9 PM — quietSep 22, 10 PM — quietSep 22, 11 PM — quietYesterday, 12 AM — quietYesterday, 1 AM — quietYesterday, 2 AM — quietYesterday, 3 AM — quietYesterday, 4 AM — quietYesterday, 5 AM — quietYesterday, 6 AM — quietYesterday, 7 AM — quietYesterday, 8 AM — quietYesterday, 9 AM — quietYesterday, 10 AM — quietYesterday, 11 AM — quietYesterday, 12 PM — quietYesterday, 1 PM — quietYesterday, 2 PM — quietYesterday, 3 PM — quietYesterday, 4 PM — quietYesterday, 5 PM — quietYesterday, 6 PM — quietYesterday, 7 PM — quietYesterday, 8 PM — quietYesterday, 9 PM — quietYesterday, 10 PM — quietYesterday, 11 PM — quietToday, 12 AM — quietToday, 1 AM — quietToday, 2 AM — quiet 123
Sep 22yesterdaynow · 3:47 AM ET
  1. 3

    Analyst flags valuation risk across AI supply-chain listings

    Reuters reported financial details — Ligent's 29.7% profit growth and 27.9% revenue growth in H1, Hisense's retained 40.1% control, and planned use of proceeds — alongside analyst commentary warning that AI-supply-chain valuations assume continued exponential compute demand.

    “The key risk is that the valuation for players in the AI supply chain have built in exponential compute-demand driven growth. Therefore, deceleration of such growth in the demand will become catalyst for de-rating of such players.”
    — Ke Yan, Shenton Research
    1. 2 outlets China's Ligent jumps 19% in Hong Kong debut as AI demand draws investors

      first by Reuters, 1d ago · also Bloomberg

      1 more headline
  2. 2

    Ligent shares jump as much as 19.2% on Hong Kong debut

    Shares hit a high of HK$39.3, up from the HK$32.96 offer price, giving Ligent a market value of about HK$32.4 billion; the Hang Seng and Hang Seng Tech indices also rose. The public offering was 35.16 times subscribed and the international tranche 4.67 times subscribed.

    1. 1 outlet first by Channel News Asia, 2d ago · read ↗

  3. 1

    Ligent prices $727 million Hong Kong IPO ahead of debut

    Ligent Technologies, an AI computing networks equipment maker, raised HK$5.7 billion ($727 million) in its Hong Kong IPO, part of this year's wave of AI-buildout-linked listings.

    1. 1 outlet Ligent's Hong Kong IPO Put AI Data Center Gear In Focus

      first by Finimize, 1d ago

    2. 1 outlet first by Bloomberg Tech, 2d ago · read ↗