The direct answer is that the supplied brief reports a HK$980 per-share Hong Kong listing price for Zhongji Xuchuang, implying an offering size of about HK$53.4 billion, or about US$6.8 billion. If the over-allotment option is exercised, the transaction size could rise to about HK$61.0 billion, or about US$7.8 billion. The same brief says the Hong Kong exchange planned to launch stock options on the company on July 30, subject to the stock successfully listing. Treat this as reported market information, not as a confirmed trading outcome or personal investment advice.
| Primary source | Wallstreetcn |
|---|---|
| Reported at | 2026-07-27T05:55:51.000Z |
| Topic | 股票 |
| Evidence limit | Reported facts are separated from interpretation; current prices and platform terms require independent verification. |
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Review BACKPACKWhat Was Reported
The supplied brief says Zhongji Xuchuang was reported to be completing its Hong Kong offering at HK$980 per share. That is below the earlier highest marketing price of HK$1,010 and represents a discount of about 3% to that top reference price.
Based on that reported price, the brief puts the offering size at about HK$53.4 billion, or about US$6.8 billion. It also says the size could expand to about HK$61.0 billion, or about US$7.8 billion, if the over-allotment option is exercised.
Why The Pricing Matters
The reported pricing matters because it sits below the top end of the previously cited range while the brief still describes investor demand as strong. According to the supplied material, the institutional order book was closed one day early, and early demand from global long-only funds, sovereign wealth funds, and Chinese funds was enough to cover the full offering size.
The brief also compares the HK$980 Hong Kong price with the company’s Shenzhen A-share close of RMB1,046.51 from the prior Friday, describing the Hong Kong price as about a 19% discount. That comparison is useful context, but it is not a forecast of how either market will trade after listing.
Listing And Options Context
The brief says the company was expected to start trading on the Hong Kong Stock Exchange on July 30. It also says the Hong Kong exchange planned to launch monthly and weekly stock option contracts on the same day, if the underlying stock successfully listed.
Same-day options availability can be relevant for risk management because investors may use options to hedge or express views around a newly listed large-cap stock. The supplied material frames the options launch as a market-structure point, not as a signal that the stock will rise or fall.
Company And Use Of Proceeds
The supplied brief describes Zhongji Xuchuang as a core supplier of optical modules used in data center construction. It says the company planned to use proceeds for research and development, capacity expansion, supply-chain improvement, mergers and acquisitions investment, and working capital.
The brief names Goldman Sachs, China International Capital Corporation, Morgan Stanley, and GF Securities as lead underwriters, with Haitong International Securities, Citigroup, HSBC Holdings, and China Galaxy Securities also involved. Those names help identify the deal structure described in the source material, but they do not remove market risk.
Evidence Limits
This article is limited to the supplied event brief. It does not verify the actual listing result, final exchange notices, live trading data, allocation results, option liquidity, or post-listing price action.
Several key points in the supplied material are framed as reports from people familiar with the matter. That means readers should separate reported pricing and demand from confirmed exchange outcomes. Do not treat this article as proof of indexing, ranking, traffic, registration, conversion, or investment results.
Practical Checks Before Acting
Before making any market decision, check the official company announcement, the Hong Kong exchange listing status, the final offer price disclosure, the actual first trading date, and whether the stock options were launched as scheduled.
Also compare the Hong Kong share price, the Shenzhen A-share reference, liquidity, trading costs, settlement rules, and your own risk limit. A discount to another market price can be meaningful, but it is not by itself a reason to buy, sell, or hedge.
Backpack Context
The supplied brief is about a Hong Kong equity listing, not a crypto token listing. It does not say that Backpack is involved in the transaction or that Backpack offers exposure to this stock.
For readers who separately use crypto trading venues, the supplied Backpack referral URL is BACKPACK official destination and the supplied code is 11350287. Review that separately from this stock-market news, and do not treat the IPO report as a reason to open an account or place a trade.
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Review BACKPACKAffiliate link · Availability varies by region · No guaranteed outcomeQuestions readers ask
What is the direct news point from the supplied brief?
The brief reports that Zhongji Xuchuang may price its Hong Kong offering at HK$980 per share and was expected to list on the Hong Kong Stock Exchange on July 30, with stock options scheduled to begin trading the same day if the listing succeeded.
How large is the reported offering?
At the reported HK$980 price, the brief estimates the offering size at about HK$53.4 billion, or about US$6.8 billion. If the over-allotment option is exercised, the brief says the size could rise to about HK$61.0 billion, or about US$7.8 billion.
Why is the HK$980 price notable?
The supplied brief says HK$980 is below the earlier HK$1,010 top marketing price by about 3% and represents about a 19% discount to the company’s prior Friday Shenzhen A-share closing price of RMB1,046.51.
Does strong reported demand mean the stock should rise after listing?
No. The brief reports strong demand and an early institutional book close, but it does not provide a confirmed post-listing trading result. Demand during an offering is not a guarantee of future price performance.
What does the same-day options launch mean?
The supplied material says the Hong Kong exchange planned to launch monthly and weekly stock options on July 30 if the underlying stock successfully listed. That may support risk management and hedging, but it does not predict the stock’s direction.
Is this Backpack news or stock-market news?
This is stock-market news about a Hong Kong listing. The supplied brief includes a Backpack referral link for broader crypto-market context, but it does not connect Backpack to the equity offering.