Shanghai, Feb 1, 2026, 08:20 (CST) — Market closed
- Montage Technology (688008.SS) closed the previous session with a 12.1% gain, finishing at 181.85 yuan
- The chip designer kicked off a Hong Kong H-share offering, with pricing set for Feb. 6 and trading slated to begin Feb. 9
- Traders are closely monitoring final pricing and demand signals, as well as any ripple effects on the Shanghai listing
Montage Technology Co., Ltd. Class A shares surged 12.1% in China on Friday, finishing at 181.85 yuan after hitting a session high of 185.88 yuan.
The company announced a maximum offer price of HK$106.89 per H share and plans to start trading on Feb. 9. The final pricing will be confirmed by Feb. 6, following the close of the Hong Kong public offer on Feb. 4. Additionally, it revealed an overallotment option allowing underwriters to sell up to 9.88 million extra shares, pushing the total potential offer size to 75.77 million shares.
Offer documents set the base deal at 65.89 million H shares, divided into 10% for Hong Kong retail investors and 90% for international placement. If the offer hits its cap, proceeds could reach around HK$7.04 billion, excluding any additional shares from the overallotment option.
This is crucial now since the H-share price offers investors another benchmark to value the company’s Shanghai-listed A shares. H shares are priced in Hong Kong dollars, while A shares trade in yuan. A bigger gap between them can attract short-term capital and occasionally spark concerns over dilution.
Timing matters here. Axera Semiconductor Co., Ltd., another mainland chip firm, kicked off its Hong Kong IPO on Jan. 30, aiming to list by Feb. 10, according to Securities Times.
Montage’s pitch to investors is nothing new: it makes memory-interface and other interconnect chips for servers and data centres, sectors where spending often fluctuates with cloud expansions and AI hardware demand.
Following Friday’s jump, traders are set to see if A shares can maintain these gains when the Shanghai market opens Monday. The next triggers will come from overseas—pricing moves and initial demand signals.
If the final offer price lands far below the cap, or if demand looks weak and the deal requires backing, the A shares could face selling pressure after such a big one-day surge.
The Hong Kong public offer closes on Feb. 4, with pricing set for Feb. 6. Trading should kick off by Feb. 9.
