Montage Technology Co Ltd (HKG: 6809) (SHA: 688008) surged dramatically during its Hong Kong trading debut on Monday as investors were captivated by the company’s role in the burgeoning AI sector.
Stock opened at approximately US$21.50, representing a 57 per cent jump from its IPO price of US$13.68, and closed at US$22.40. Gains totalled roughly 64 per cent overall. The Hong Kong IPO stock sale represents a 44 per cent discount to the company’s Shanghai shares, which closed at US$24.63 on Friday.
This outstanding performance on the market reflects strong enthusiasm about Montage’s role in high-performance computing tech and semiconductors.
The surge followed the chip firm’s recent share sale, which raised around US$902 million via an initial public offering of 65.9 million shares. Investors oversubscribed the retail portion more than 700 times and the international tranche nearly 38 times, highlighting strong demand.
A total of 17 cornerstone investors, including JPMorgan Asset Management, Yunfeng Capital and UBS Asset Management, committed about US$450 million to help lock in the deal.
Montage plans to put proceeds toward research, development, commercialization initiatives and other investments.
Founded in Shanghai in 2004, Montage Technology currently specializes in designing interconnect chips that accelerate data flows in data centres, artificial intelligence accelerators and high-performance computing systems.
The East China firm currently commands over one-third of the global market share for memory interconnect chips, according to data from market researcher Frost & Sullivan. In Shanghai, the chip producer has a market capitalization of roughly US$29 billion and expects its net income to rise by over US$140 million year-over-year in 2026.
One of Montage’s primary sector competitors is Huawei’s chip unit HiSilicon. It currently dominates the domestic AI chip landscape in China.
On the Hong Kong Stock Exchange, the firm joins Chinese AI companies such as GigaDevice Semiconductor Inc (HKG: 3986) and OmniVision Integrated Circuits Group Inc (FRA: S99) (HKG: 0501) that are navigating American export curbs while pursuing global expansion.
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