Zhongji Innolight (SHE:300308) $7 Billion Hong Kong Plan Would Equal 84% of Its Asset Base
Zhongji Innolight is close to Chinese regulatory approval for a Hong Kong share sale of about $7 billion, people familiar with the matter said. At Wednesday’s Shenzhen close, a sale made entirely of new stock at the same price would dilute existing holders by roughly 3.5%, while raising gross proceeds equal to 84% of the company’s assets at the end of March.