Montage Technology achieves strong performance in Hong Kong IPO
Montage Technology, a Chinese semiconductor designer, successfully launched its Hong Kong IPO on Monday, raising $902 million. The company's shares surged 57% on its trading debut, demonstrating significant investor demand.
Montage Technology, a Chinese chip designer, completed its Hong Kong initial public offering with impressive results. The company raised $902 million through the share sale, with shares priced at HK$106.89 and closing at HK$168 on the first trading day, representing a 57% increase.
The offering received overwhelming support from both local and international investors, with Hong Kong public investors subscribing over 700 times and international investors nearly 38 times. The company, which already operates on mainland Chinese markets with a market capitalization around $27 billion, joins other Chinese semiconductor companies like GigaDevice Semiconductor in recent Hong Kong listings.
Despite global tech sector challenges and geopolitical tensions, the strong investor response reflects continued confidence in Chinese technology firms and the semiconductor industry's growth potential.
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