Ligent Technologies Lists on HKEX

Ligent Technologies made its stock market debut on the Main Board of the Hong Kong Stock Exchange on September 22, raising HK$5.67 billion and achieving a market capitalisation of HK$32.4 billion at listing. Shares surged as much as 19.2% on the first day of trading, significantly outperforming both the Hang Seng and Hang Seng Technology indices. Proceeds will fund R&D investment and expand production capacity for optical chips and transceivers.

With over two decades of expertise in the optical communications sector, Ligent is one of a small number of companies globally to have developed fully integrated, in-house R&D and mass-production capabilities spanning both optical chips and high-speed optical modules. By global optical module revenue in 2025, Ligent ranked fifth among specialist manufacturers worldwide with a 4% market share, and third in China with a 10.1% share.

Primavera Capital, Ligent’s largest external shareholder and a strategic partner since 2017, has worked closely with Ligent’s management team on corporate governance and supported the company across each stage of its growth — from technology upgrades and overseas production base expansion to its listing on the Hong Kong Stock Exchange.

“We have long believed in optical modules as core infrastructure, and the rise of AI has further expanded the growth potential of this industry,” said Zhang Jing, Partner at Primavera Capital and Non-Executive Director at Ligent. “This public debut is an important milestone for the company, reflecting the continued advancement of China’s optical communications industry in the AI era. Primavera will continue to draw on our ecosystem to support Ligent’s long-term development in technology and industrial expansion.”