itstargetnews
A robot manufactures semiconductor chips at a booth to demonstrate to investors during the Advantage Assam 2.0 Investment Summit in Guwahati, India, February 25, 2025.
Noor Photos | Noor Photos | Getty Images
Shares of Chinese chip designer Montage Technology surged 57% in Hong Kong trading on Monday after Initial stock offering raises $902 million.
Montage Technology set the issue price at the upper limit of the range at HK$106.89, and its stock price jumped to HK$168, joining the growing number of Chinese artificial intelligence companies entering the capital market. The stock is currently trading up 52% as of 9:18 p.m. ET on Sunday.
The Hong Kong public offering was subscribed more than 700 times, while the international offering was nearly 38 times subscribed, indicating that investor interest in Chinese semiconductor companies remains strong despite continued headwinds from geopolitics and the technology industry.
The share sale follows an initial public offering in January GigaDevice Innovation and Haowei Integrated Circuit.
According to LSEG data, Montage Technology is also listed on the mainland, with a market value of approximately US$27 billion.
