CIG Shanghai Co., Ltd. (Stock Code: 6166.HK) has launched its Hong Kong IPO. The subscription period runs from October 20 to October 23. The company plans to globally issue 67,010,500 H-shares, with an over-allotment option. The maximum offer price is HK$68.88 per share, with a board lot of 50 shares, and an initial investment requirement of approximately HK$3,478.73. The shares are expected to commence trading on the Main Board of the Stock Exchange on October 28. Guotai Junan International is the sole sponsor.

CIG Shanghai: A Top-Five Global Integrated Optical and Wireless Connectivity Equipment Supplier

Offering Proportion: Approximately 10% (6,701,050 shares) for the Hong Kong Public Offering, and about 90% (60,309,450 shares) for the International Placement.

Offer Price: Maximum HK$68.88 per share; board lot of 50 shares; initial investment requirement of approximately HK$3,478.73.

Subscription Period: October 20 to October 23 (Expected Pricing Date: October 24).

Listing Date: October 28.

IPO Sponsor: Guotai Junan International.

Company Profile

CIG Shanghai primarily engages in the design, development, and sales of connectivity and data transmission equipment. Its products cover broadband, wireless, and optical module technologies. According to a Frost & Sullivan report, the company is one of the few global enterprises capable of providing all three types of technological products. In 2024, based on sales revenue, it ranked fifth in the global integrated optical and wireless connectivity equipment industry, with a market share of 4.1%. The company has a global business footprint, with its overseas market revenue share continuously increasing, reaching 92.6% in 2024.

Financial Information

According to the prospectus, CIG Shanghai's revenues for 2022–2024 were approximately RMB 3.784 billion, RMB 3.085 billion, and RMB 3.650 billion, respectively. Net profits for the same periods were approximately RMB 171 million, RMB 95 million, and RMB 167 million. For the first half of 2025, revenue was approximately RMB 2.034 billion, with a net profit of approximately RMB 118 million. Based on the maximum offer price of HK$68.88 per share and assuming the over-allotment option is not exercised, the company expects to raise net proceeds of approximately HK$4.480 billion. The funds will be allocated to: enhancing production capacity (50%), R&D talent and technology (20%), business promotion and marketing (5%), strategic overseas investments (15%), and general corporate purposes (10%).

uSMART launches “HK IPO Fee-Waiver Offer” – subscribe to new shares at zero cost

Margin subscription: 0 % interest, leverage up to 10×

Cash subscription: HK$0 handling fee

Grey-market trading supported

* 0 % interest applies to margin subscription amounts of HK$10 million or below.

^ All handling fees are waived for cash subscriptions.

This promotion is effective from 20 May 2025 until further notice. Certain high-profile IPOs may be excluded. The actual interest rates and fees charged are those shown in the uSMART App subscription interface; statutory government and exchange levies will still apply. The company reserves the right to amend, suspend or terminate the above offer or its terms and conditions at any time without prior notice, and its interpretation shall be final.

How to Subscribe for CIG via uSMART HK

The uSMART HK App features an IPO Centre with exclusive perks, allowing clients to subscribe instantly to new public offerings. After logging in, tap “Trade” at the bottom-right, select “IPO Subscription,” choose CIG , tap “Public Offer,” enter the subscription quantity, and submit your order.

(Image source: uSMART HK App)