Ligent Technologies Inc. (Ticker: 9856 HK) is a Chinese semiconductor and optical communications company that develops products used in high-speed data networks, including optical transceivers, chips and network terminals. Its technology is designed in part for AI-driven computing networks, where large amounts of data need to move quickly between servers and data centers. The company serves customers globally.

Ligent plans to list on the Hong Kong Stock Exchange on September 22, 2026. The company is offering approximately 172.01 million new shares at HKD 32.96 per share, raising about HKD 5.67 billion, or approximately $723 million. The offering implies a market capitalization of around $4.1 billion.

All shares in the IPO are primary shares, meaning the proceeds will go to Ligent rather than existing shareholders. The offering also includes a 15% greenshoe option. CLSA, Citigroup Global Markets Asia, Futu Securities International and GF Securities Hong Kong Brokerage are among the managers of the IPO.