AI data centre supplier Zhongji InnoLight falls on Hong Kong debut / Photo: © AFP
-
Russia probes bear attacks, as official says town under 'siege'
-
China prodigy wins third Games gold as North Korea weightlifters roar
-
Robertson tells Spurs to 'forget' past woes
-
China's Yu, 13, wins third Asian Games gold but has 'some regrets'
-
Italy police find 3 million euros stashed in mobster's house
-
Oil falls, stocks steady as Trump hails 'good' Iran talks
-
Renard versus Queiroz in AFCON qualifying blockbuster
-
UK sets up unit to combat disinformation from Russia, AI
-
Former Mexico boss Aguirre returns to Spain with Valencia
-
ICC convicts C.Africa rebel leader
-
China swimmer, 13, seals Games hat-trick as North Korea win first gold
-
China's Yu, 13, wins third gold with latest Asian Games record
-
China's Xi heads to US for talks with Trump: state media
-
UK says will revisit Chagos deal after latest Trump criticism
-
Azerbaijan pardons Frenchman after EU lifts sanctions on oligarchs
-
In first, French presidential candidate gives birth during campaign
-
Hadjar extends Red Bull contract for 2027 F1 season
-
Cambodia no 'safe haven' for cyberscams, PM says
-
Black Sea drone attacks spell terror for Turkish sailors
-
North Korea weightlifter sets three world records for Asian Games gold
-
Canada judge to decide prison term for suicide poison seller
-
A Full Moon for Every Child: STARTRADER's STARCARES Brings Support to SOS Children's Village Ho Chi Minh City
-
Weinstein faces resentencing in New York for 2006 sex assault
-
Meta leans into AI, smart glasses amid privacy pushback
-
Outgoing UN chief makes climate push at New York summit
-
Battered Duerer masterpiece up for five-year revamp
-
AI risks, Iran war to take center stage at UN
-
Trump met with Venezuela's interim leader at UN
-
Badminton no.1 An tells dad to keep it down at Asian Games
-
Malaysia furore after Najib wins conditional house arrest
-
Runaway leader Antonelli eyeing third straight win
-
Italy hope for new dawn under Mancini
-
Schoolgirl Yu, 13, fastest again in bid for third Asian Games gold
-
Mongolian herders enlist new tech against harsher, drier climate
-
Oil prices fall after Trump hails 'good' talks with Iran
-
Tata turmoil shines light on India succession woes
-
AI political ads warp reality ahead of US midterms
-
World Cup 'not enough' as Spain begin next chapter
-
Kenneth Branagh embraces action hero role -- to get in shape
-
Meta acts against 3.7 mn scammers' accounts with Singapore police help
-
'New one' Klopp promises fresh approach as Germany reign begins
-
Australia PM says draft social media rules about taking back control
-
Milne returns to New Zealand squad for India T20 series
-
Voting opens in Alaska's annual Fat Bear Week
-
US-led Americas coalition backs sanctions against crime groups
-
MLS coach axed for telling female ref 'It's a man's game'
-
'Star Wars' fans and art lovers line up for new Lucas museum
-
US refuses to give Sudan's de facto leader visa for UN
-
Trump renames AI 'super intelligence' as leaders jostle over dangers
-
Man City hold Bayern to start Women's Champions League, Arsenal win late
AI data centre supplier Zhongji InnoLight falls on Hong Kong debut
Shares in China's Zhongji InnoLight fell in the first few minutes of its Hong Kong debut Thursday, after raising at least US$6.8 billion in the city's biggest IPO since 2019.
The firm, which makes high-end optical components for AI data centres, dropped more than 8.5 percent to HK$895 at around 10:17 am (0217 GMT).
The Shenzhen-listed firm priced shares at HK$980, raising about HK$53.4 billion (US$6.8 billion) in Hong Kong's biggest public offering since Chinese tech behemoth Alibaba listed in 2019.
Zhongji InnoLight is one of several Chinese firms blacklisted by the US Department of Defense in June over alleged military ties.
The company rejected the US claims in its filing to the Hong Kong stock exchange, saying "we have not engaged in any military-related businesses or activities".
It warned investors that the blacklist "may subject us to increased scrutiny and potential further government actions".
China and the United States are locked in a race for dominance in the fast-moving AI field, fuelling huge global expansion of data centres -- warehouse-like facilities crammed with computer servers.
Thursday's listing is the latest in a recent run of blockbuster debuts from Chinese AI-related companies in Hong Kong, indicating optimism for China's ambitions in the sector.
F.Wagner--VB
