A robotic machine manufactures semiconductor chips at a stall and shows them to investors during the Advantage Assam 2.0 Investment Summit in Guwahati, India, February 25, 2025.
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Shares in Chinese chip design company Montage Technology rose 57% in its Hong Kong trading debut on Monday after the company raised $902 million in its first share sale.
Montage Technology set its selling price at HK$106.89, the upper end of its price range, before jumping to HK$168, joining a growing list of Chinese artificial intelligence companies tapping the capital market. It was trading 52% higher as of 9:18 p.m. ET on Sunday.
The Hong Kong public tranche received more than 700 subscriptions, while the overseas offering covered nearly 38 offers, demonstrating strong investor appetite for Chinese semiconductor stocks despite continued geopolitical and tech sector headwinds.
The stock sale follows Gigadevice Semiconductor’s debut in January. omnivision integrated circuit.
Montage Technology is also listed on the mainland and has a market capitalization of about $27 billion, according to LSEG data.
