China’s Montage Technology soars in Hong Kong debut
A robotic machine produces semiconductor chips at a booth to demonstrate to investors during the Advantage Assam 2.0 Investment Summit on February 25, 2025 in Guwahati, India.
Nurfoto | Nurfoto | Getty Images
Shares of Chinese chip designer Montage Technology rose 57% in early trading in Hong Kong on Monday. First share sale worth $902 million.
Montage Technology jumped to HK$168 after pricing its offering at HK$106.89 at the high end of the range, joining a growing list of Chinese AI companies tapping the capital markets. It is currently trading 52% higher as of 9:18 PM ET on Sunday.
The Hong Kong public tranche was subscribed more than 700 times, while the international offering was covered almost 38 times; This signaled investors’ strong appetite for Chinese semiconductor names despite ongoing geopolitical and technology sector headwinds.
The share sale follows GigaDevice Semiconductor’s initial sales in January and OmniVision Integrated Circuits.
Montage Technology is also listed on the mainland with a market value of about $27 billion, according to LSEG data.
