Ligent Technologies to debut on Hong Kong stock exchange after $727M IPO

Ligent Technologies, a maker of optical transceivers and chips that keep data centers humming, is about to go public in Hong Kong after pricing an IPO worth roughly $727 million. The company will begin trading under stock code 9856.HK on September 22, 2026, landing a post-IPO valuation of approximately HK$32.4 billion, or about $4.13 billion. Ligent offered 172 million shares at HK$32.96 each. The numbers behind the listing Nearly 30 cornerstone investors committed around $340 million to the deal, covering 47% of the base offering before public subscriptions even opened. The subscription window ran from September 14 through September 17, 2026. The company’s recent financials help explain why. First-half 2026 revenue hit 5.39 billion yuan, roughly $803 million, representing a 27.7% jump compared to the same period a year earlier. Net profit climbed nearly 30% to 661 million yuan. A full 70% of that revenue came from datacom transceivers. Why AI is the tailwind Ligent ranks as the fifth-largest pure-play optical module vendor globally by revenue, carving out a niche in integrated optical module and chip solutions designed specifically for AI computing networks and cloud infrastructur...