China’s Ligent seeks about $723M Hong Kong IPO for AI data-center optics

Ligent Technologies, a Hisense-controlled maker of fibre-optic gear for data centers and cloud networks, filed a Hong Kong prospectus Monday seeking about HK$5.67 billion (~$723 million) at HK$32.96 a share, with a planned Sep 22 listing — and said AI and cloud demand lifted its data-center transceiver sales.

Another China-linked AI plumbing company is tapping Hong Kong equity markets — not a model lab, but the optical gear that moves bits inside AI data centers — with the company itself tying recent sales growth to AI and cloud demand.

Ligent Technologies, Inc. (納真科技; stock code 9856) filed a Hong Kong prospectus Monday. An IPO — initial public offering — is a company’s first sale of shares to the public. HKEX is the Hong Kong stock exchange, where those shares would trade. The prospectus seeks about HK$5.67 billion (~$723 million) at HK$32.96 a share, offering 172,014,700 shares, subject to an overallotment option. That prospectus is the filing event.

The Hong Kong public offer — the slice sold to local investors — starts Monday 14 Sep 2026. Trading is expected Tuesday 22 Sep 2026 under code 9856.

Reuters reported cornerstone investors — institutions that agree to buy shares before trading starts — for about $340 million, about 47% of the base deal. Named buyers, per Reuters: Primavera, GigaDevice, Amlogic Hong Kong, Mirae Asset Securities HK, PAG, ORIX-backed Turquoise Hime, Barings, GF Fund, and E Fund.

Hisense controls Ligent. The prospectus says Hisense would keep about 40.1% after the IPO if the overallotment is unused, down from about 48.6%. Overallotment — extra shares underwriters can sell if demand is strong — can add up to about 25.8 million shares (25,802,200 in the prospectus). Joint sponsors are Citigroup and CITIC Securities.

Ligent makes optical transceivers — plug-in boxes that turn electrical signals into light and back so servers can talk over fibre — plus optical chips and network terminals for data centres, cloud networks, and telecom.

For the first half of 2026, the prospectus reports revenue of about 5.39 billion yuan (~27.9% up), net profit of about 661 million yuan (~29.7% up), and data-centre transceiver sales of about 3.74 billion yuan (~36.6% up). Yuan is China’s currency. The company ties that transceiver jump to AI and cloud demand. Those are Ligent’s figures.

Stated use of proceeds: research and development, production expansion, and general corporate purposes.