The Zhongji Innolight logo is displayed on the screen of a tablet computer. Shares of Zhongji Innolight fell 5% on Thursday after the Chinese optical transceiver maker made its trading debut on the Hong Kong Stock Exchange. The company raised HK$53.4 billion ($6.8 billion) after pricing its initial public offering at HK$980 per share, below the maximum indicated price of HK$1,010. The deal was Asia's second-largest listing this year, behind Chinese memory-chip maker CXMT $8.6 billion Shanghai listing. The Hong Kong tranche drew orders for roughly 16.8 times the shares available to retail investors, while for international it was 9.7 times.