If you don't know what an "A+H" listing is, this is why it matters
A Chinese company can list the same shares in two places:
- A-share = mainland (Shenzhen), priced in RMB, mostly closed to foreigners
- H-share = Hong Kong, priced in HKD, open to everyone
Same company, same dividends. But you can't swap one for the other, so the two prices drift apart. When global demand is strong, the H-share trades above the A-share.
CATL right now: the H-share is about 54% above its A-share. That's what it costs the rest of the world to buy in.
Zhongji is doing the same thing. Already public in Shenzhen, Hong Kong listing next.
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Zhongji Innolight vault is more than half full.
$5.6M in the first 10 minutes, against a $10M cap.
Pre-IPO allocation to the world's largest optical-transceiver maker, priced in line with the Hong Kong IPO.
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