InnoLight, listed on the Shenzhen exchange as 300308, announced on 30 July that its controlling shareholder had reduced its stake by 1.46 percentage points, from 17.99% to 16.53%, through the issuance of H-shares, incentive exercises and secondary-market sales.
Between 28 May 2025 and 30 July 2026, the controlling group sold a combined 6,208,552 A-shares, including 5.5 million from the holding entity and 708,600 from Wang Xiaodong. At the 864 yuan closing price, those 6.21 million shares are worth over 50 billion yuan.
On the same day the company debuted in Hong Kong, issuing 54.5 million shares at 980 HKD to raise 53.4 billion HKD, with net proceeds of 52.89 billion after fees. The plan directs funds to optical-interconnect R&D, global capacity expansion and strategic acquisitions.
The offer drew 29 cornerstone investors subscribing 3.45 billion USD, about 27 billion HKD: Temasek 300 million, Hillhouse’s HHLRA 300 million, JPM Asset Management 250 million, BlackRock 250 million, YF Capital and Aspex 150 million each, and ADIA, Wellington, Boyu, Bain, CPE, Alibaba and Tencent in the 50 to 100 million range.
Despite that roster, the stock broke issue, falling as much as 8% intraday before closing at 960 HKD, down 2%, for a 1.12 trillion HKD market cap. At the 2% drop, Temasek and Hillhouse were down about 6 million USD and Alibaba and Tencent about 1 million each.
Read the original report (Sohu IT)
Translated and adapted from Sohu IT (it.sohu.com).