Davis Polk has advised on Zhongji InnoLight's HK$61.4B IPO
The IPO is the largest Hong Kong listing in seven years, the largest in optical communications history, and the largest A-to-H IPO ever.
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In short: Davis Polk achieved market leadership in H1 2026, advising on over $107 billion in IPOs and securing top rankings in capital markets.
The IPO is the largest Hong Kong listing in seven years, the largest in optical communications history, and the largest A-to-H IPO ever.
The deal creates a consolidated U.S. exchange group with ~$2.3 billion enterprise value; TMX Group will hold about 59% and closing is expected in H2 2027.
The IPO involved 36.9 million shares and listing on Tokyo Stock Exchange, with proceeds up to $606.6 million
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