China's Zhongji Innolight plans $8 billion Hong Kong IPO, sources say

China's Zhongji Innolight 300308.SZ, a maker of optical transceivers, will launch a Hong Kong listing on Wednesday to raise at least $8 billion, three sources with direct knowledge of the matter said, putting it on track to be Asia's second-largest listing this year.

The company will sell the shares at a price up to HK$1,010 ($128.81) each, two of the sources said. That price would represent a 13.2% discount to the company's Shenzhen-listed stock's closing price on Monday.

Zhongji had earlier discussed pricing the Hong Kong shares at a 15% to 20% discount to its Shenzhen stock, two sources said, before a sharp rally widened the potential discount and a recent market fall narrowed the gap between its mainland-listed shares and planned Hong Kong shares.

Its shares have jumped some 86.2% year-to-date.

The sources spoke on condition of anonymity as the information is confidential.