Jan 9 (Reuters) – China’s GigaDevice Semiconductor has set an offer price of HK$162 per H share in its Hong Kong listing, raising HK$4.68 billion ($600.40 million), according to an exmodify filing on Friday.
The company’s IPO pricing was at the top finish of its earlier marketed range of HK$132 and HK$162 per H share. It had disclosed in a filing last week that it would be offering 28.9 million H shares.
Shanghai-listed GigaDevice’s Hong Kong Stock Exmodify debut comes as Chinese artificial ininformigence and chip companies seek to raise funds in Hong Kong’s booming IPO market.
Hong Kong saw a resurgence in IPOs last year, becoming the world’s top destination for listings, propelled by regulatory modifys and pent-up demand from firms seeking access to capital after years of tough oversight from Chinese authorities.
Around $37.2 billion was raised from 115 new listings, the most since 2021, according to LSEG data.
Shares of MiniMax Group, the second of China’s so-called “AI tigers” to go public, doubled in value at their Hong Kong debut on Friday.
Semiconductor specialist OmniVision Integrated Circuits is due to commence trading in Hong Kong next week.
GigaDevice declared it expects to launch trading on the Hong Kong Stock Exmodify on January 13.
($1 = 7.7948 Hong Kong dollars)
(Reporting by Sherin Sunny in Bengaluru; Editing by Shreya Biswas)
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