LIGENT TECHNOLOGIES (09856.HK): Global offering of 172,014,700 shares at HKD 32.96 each opens, net proceeds of up to HKD 6,295.7 million, listing on 22 September

NewTimeSpace (newtimespace.com) News, On 14 September 2026, Ligent Technologies, Inc. (stock code: 09856) published a prospectus to launch its global offering on the Main Board of the Stock Exchange. The global offering comprises 172,014,700 offer shares, subject to the exercise of the over-allotment option, of which 17,201,500 shares are under the Hong Kong offering and 154,813,200 shares under the international offering, at an offer price of HKD 32.96 per share, with a nominal value of USD 0.02 per share.

Based on the indicative offer price of HKD 32.96 per offer share and after deducting estimated underwriting fees and other estimated expenses, the Company estimates net proceeds of approximately HKD 5,445.3 million, assuming the over-allotment option is not exercised, or HKD 6,295.7 million if it is exercised in full. Approximately 52.9%, or HKD 2,881.5 million, of the net proceeds is expected to be allocated to research and development of new products and technologies, including approximately 32.6%, or HKD 1,776.2 million, for retaining existing and attracting new top research and professional talent, and approximately 17.1%, or HKD 933.8 million, for procuring and installing specialised research and development equipment for optical modules and optical network terminals; approximately 25.1%, or HKD 1,365.9 million, for expanding optical module and optical chip capacity and enhancing automation across the product lines; approximately 8.0%, or HKD 435.6 million, for strategic investments and acquisitions along the optical communications value chain in the PRC and overseas markets over the next five years; approximately 4.0%, or HKD 217.8 million, for business promotion and overseas market expansion; and approximately 10.0%, or HKD 544.5 million, for working capital and general corporate purposes.

The Company has entered into cornerstone investment agreements with the cornerstone investors, who have agreed to subscribe for offer shares in an aggregate amount of USD 340 million (approximately HKD 2,665.8 million) at the offer price, representing a total of 80,876,700 shares based on an offer price of HKD 32.96 per offer share, accounting for approximately 47.02% of the offer shares and approximately 8.23% of the total issued share capital immediately after completion of the global offering, assuming the over-allotment option is not exercised; these percentages become approximately 40.88% and 8.02% respectively if the over-allotment option is exercised in full. The cornerstone investors include Primavera Cornflower Investment Fund L.P., Mega Prime Development Limited and Poly Platinum Enterprises Limited under GBAHIL, CFTC Paragon SP, HK BVF I LPF, Orient Asset Management (Hong Kong) Limited, Mount Altai Investments Limited and Peak View Capital Limited, among others. An allotment results announcement is expected to be published on or around 21 September 2026.

The Company is an established provider of optical communications and optical connectivity products, engaged in the research, development, manufacture and sale of optical modules, optical chips and optical network terminals. Based on 2025 revenue from optical modules, the Company held a 4.0% global market share, ranking fifth among all professional optical module manufacturers worldwide, and a 10.1% market share in China, ranking third. As at the latest practicable date, the Company owned 1,581 patents and 726 pending patent applications globally, is a founding or member unit of 18 industry standardisation organisations and has participated in the formulation of 61 industry standards, and operates four manufacturing bases in Qingdao, Jiangmen, Thailand and the United States. The Company recorded revenue of RMB 8,354,680 thousand in 2025, up approximately 64.2% from RMB 5,086,600 thousand in 2024, and profit for the year of RMB 872,640 thousand; for the six months ended 30 June 2026, revenue was RMB 5,392,648 thousand and profit for the period was RMB 660,991 thousand.

The Hong Kong public offering commenced at 9:00 a.m. on 14 September 2026, with the deadline for electronic applications at 11:30 a.m. on 17 September 2026. The Company is expected to announce the level of interest in the international offering, the level of applications under the Hong Kong public offering and the basis of allotment of the Hong Kong offer shares on or before 11:00 p.m. on 21 September 2026, and the shares are expected to commence trading on the Main Board of the Stock Exchange at 9:00 a.m. on Tuesday, 22 September 2026. 

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