Overview
- Shares opened at HK$168 versus the HK$106.89 offer price and touched HK$171 in early trade.
- The retail tranche was more than 700 times oversubscribed, with the international tranche over 37 times.
- Seventeen cornerstone investors committed $450 million, including JPMorgan Asset Management, UBS Asset Management and Yunfeng Capital.
- Proceeds are earmarked primarily for research and development, with additional funding for commercialisation, strategic investments or acquisitions, and working capital.
- Montage is the leading global memory interconnect chip supplier with a 36.8% 2024 revenue share, supplying interface chips for AI data centers as Hong Kong IPO activity rebounds on AI interest and policy support.