How much is Montage Technology aiming to raise in its Hong Kong IPO?

Montage Technology is aiming to raise as much as HK$7.04 billion ($902 million) in its Hong Kong listing.

Who are some of the cornerstone investors in Montage Technology's IPO?

Cornerstone investors in Montage Technology's offering include JPMorgan Asset Management, UBS Asset Management, and Yunfeng Capital, committing $450 million.

What does Montage Technology design?

Montage Technology designs integrated circuits that help to speed data movement in servers and data centers.

Home / Business and Economy / Montage Tech Aims for Top Price in HK IPO

Montage Tech Aims for Top Price in HK IPO

3 Feb

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Summary

Montage Technology plans to price its Hong Kong listing at the highest end.
The semiconductor designer aims to raise up to $902 million in its IPO.
Cornerstone investors like JPMorgan have committed $450 million to the offering.

Montage Tech Aims for Top Price in HK IPO

Chinese semiconductor designer Montage Technology is anticipated to price its Hong Kong Stock Exchange listing at the upper limit of its projected range. This move is expected to secure approximately HK$7.04 billion, equivalent to $902 million. The company plans to offer 65.9 million H shares at a maximum price of HK$106.89 each.

The substantial offering has attracted significant interest, with 17 cornerstone investors committing a total of $450 million. Notable participants include JPMorgan Asset Management, UBS Asset Management, and Yunfeng Capital. These funds will primarily support Montage Technology's research and development initiatives, commercialization efforts, and strategic acquisitions or investments.

Founded in 2004, Montage specializes in integrated circuits designed to accelerate data movement within servers and data centers. This sector is crucial for China's ongoing efforts to develop domestic alternatives to high-end chips, particularly amid U.S. export restrictions. CICC, Morgan Stanley, and UBS are serving as the joint sponsors for this significant offering, with shares expected to debut on February 9.