Hisense Optical Unit Ligent Raises HK$5.6 Billion in Hong Kong IPO

Ligent, the optical communications subsidiary of Chinese television manufacturer Hisense Group Holdings, completed an initial public offering in Hong Kong that raised HK$5.6 billion (US$714 million). The listing marks a steady market debut for the unit and adds momentum to a growing trend of mainland Chinese conglomerates spinning off business divisions to access overseas capital and fund technology expansion. After the IPO, Hisense retains a 40.1 per cent stake in Ligent. Both companies are headquartered in Qingdao, a city in eastern China's Shandong province. Ligent's affiliated companies include the Shanghai-listed Hisense Visual Technology and the dual-listed Hisense Home Appliances Group. The debut coincides with Hong Kong's efforts to streamline its regulatory requirements for corporate spin-offs, a move that could encourage more mainland firms to pursue similar listings. The transaction underscores Hong Kong's continued role as a fundraising hub for Chinese enterprises seeking international investors and capital to support technological development.