Ligent Targets 723 Million Dollars in Hong Kong IPO
Chinas Ligent Technologies is seeking about 723 million dollars in a Hong Kong initial public offering. The funds will support product development and AI-related expansion.
Ligent Technologies seeks to raise about $723 million in a Hong Kong IPO, targeting product development and manufacturing expansion, according to a prospectus filed Monday. The fiber optic equipment maker priced shares at HK$32.96 apiece, valuing the company at $4.13 billion. The offering follows a 27.9% increase in revenue to 5.39 billion yuan for the six months ended June 30.
Controlled by China technology conglomerate Hisense Group Holdings, Ligent secured $340 million from cornerstone investors. Backers include GigaDevice Semiconductor, Amlogic Shanghai, Mirae Asset Securities, and Orix Corp.
