Jinji Xuchuang is reportedly close to approval for a listing in Hong Kong, with a fundraising size potentially as large as $7 billion.

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Golden Finance reported on July 15 that, according to insiders, Jiqi Xuchuang is expected to obtain approval from China’s securities regulatory authorities. Its Hong Kong listing plan could become one of the largest listing projects in Hong Kong in recent years. The insiders said that once it receives approval from the China Securities Regulatory Commission, Jiqi Xuchuang will be able to apply to the Hong Kong Stock Exchange for a hearing, with the earliest timing potentially as soon as this week. The insiders said the company, which produces optical transceiver modules used for artificial intelligence and data centers, is considering raising about $7 billion in this stock offering. This scale would be far higher than earlier market expectations. However, they said that details, including the offering size and the timing of final regulatory approval, may still change. (Jin Ten)
HKEX1.13%
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