Chinese Chip Designer Montage Technology Jumps Over 50% in Hong Kong Debut

The stock rose as high as HK$171 after being priced at HK$106.89 per share, the top end of its offering range. The initial public offering raised approximately $902 million, reflecting robust investor appetite for Chinese chipmakers despite continued geopolitical and technology-sector pressures.

As of late trading, Montage shares were up around 52%, extending gains seen earlier in the session.

Demand for the offering was particularly strong. The Hong Kong public tranche was subscribed more than 700 times, while the international portion of the deal was nearly 38 times covered, according to market data. The response highlights sustained interest in Chinese semiconductor and artificial intelligence-related companies tapping offshore capital markets.

Montage’s debut follows recent Hong Kong listings by GigaDevice Semiconductor and OmniVision Integrated Circuits, both of which also saw solid investor participation.

Montage Technology is already listed on mainland Chinese exchanges and has a market capitalisation of approximately $27 billion, according to LSEG data. The company designs memory interface chips widely used in servers, personal computers, and data centre applications.

Despite export controls and geopolitical scrutiny facing China’s chip sector, recent listings suggest investor confidence remains resilient, particularly for companies linked to artificial intelligence and data-driven technologies.