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. This desk does not treat the IPO as closed or priced beyond what the prospectus states.

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. File those as the prospectus timetable, not a completed listing.

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. File the names as Reuters’ list from the same prospectus cycle.

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. This desk did not audit them.

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

CONFIRMED here: the 14 Sep 2026 HKEX prospectus. REPORTED: Reuters’ same-filing dispatch. NOT claimed: that the IPO has closed, that the book is fully sold, or investment advice from this desk. Distinct from the already-filed zai-5b-hong-kong-raise, softbank-openai-loan-11-87b, and asia-chips-plunge-ai-slowdown.