Ligent jumps 19% in Hong Kong debut at $4.6 billion value
Bloomberg put the raise at about $727 million and called it the latest Hong Kong AI listing, in a report Techmeme relayed on Tuesday.
Shares in Ligent, a Chinese optical transceiver maker, rose 19% on their Hong Kong debut, giving the company a market value of about $4.6 billion, Bloomberg reported. The listing raised about $727 million, according to the same report.
The report is by Sangmi Cha for Bloomberg, and Techmeme relayed it on Tuesday. Bloomberg called the listing the latest Hong Kong AI IPO. The relayed post does not give the offer price, the size of the free float, or the day trading opened.
Bloomberg described Ligent as a maker of optical transceivers. The relayed report does not set out the company's revenue, name its customers, or say how much of its business comes from AI data centre work. It does not name the underwriters.
The story rests on one outlet. Bloomberg has it and Techmeme relayed it, and no second newsroom has carried the listing in the material gathered so far. A 19% first-day gain may narrow once trading settles, and the post covers the debut only.