Shanghai, Feb 2, 2026, 08:23 (GMT+8) — Premarket update
- Montage Technology’s Class A shares, listed in Shanghai, closed the last session with a strong gain.
- A Hong Kong share sale is underway this week, with the main timetable dates packed into Feb. 4–9.
- Traders are keeping an eye on whether the stock can maintain its gains ahead of Hong Kong pricing.
Montage Technology’s Class A shares on the Shanghai exchange are set to draw attention when markets open Monday. The stock jumped 12.13% Friday, closing at 181.85 yuan after reaching an intraday peak of 185.88 yuan amid heavy trading. According to Investing.com, volume hit 91.43 million shares. (Investing)
This move is crucial now as the chip designer pushes a Hong Kong listing simultaneously, with pricing mechanics linking the two markets. That connection keeps the Shanghai close relevant, despite the deal being offshore.
According to a notice in Shanghai Securities News, the Hong Kong public offering will remain open until Feb. 4. The final offer price is scheduled for release by Feb. 6, with trading expected to begin on Feb. 9. (China Stock Paper)
The company disclosed in a Hong Kong filing that it plans to offer 65.89 million H shares in a global offering, divided between a Hong Kong retail tranche and an international tranche. The maximum offer price is set at HK$106.89 per share. According to the filing, “We will determine the Offer Price … by reference to … the closing price of the A shares” on the Shanghai Stock Exchange on the last trading day before the price-setting date. Trading for the H shares is expected to begin on the Hong Kong Stock Exchange on Feb. 9, under the stock code 6809. The announcement was signed by Howard C. Yang. (HKEX News)
That link works both ways. A firm A-share close might push up the pricing benchmark in Hong Kong, while a weak finish could hold it down — and the Hong Kong bookbuild can, in turn, influence sentiment back in Shanghai. The filing also details an over-allotment option, a typical stabilisation mechanism allowing underwriters to sell additional shares and later repurchase stock to steady early trading.
An IPO summary from ET Net estimates net proceeds around HK$6.90 billion if the offering hits the top price. About 70% of that will go toward R&D in interconnect chips, with 15% allocated for strategic investments and acquisitions. The remaining funds will cover commercialisation and working capital. Sponsors and underwriters include China International Capital Corporation, Morgan Stanley Asia Limited, and UBS. (etnet 經濟通)
Montage Technology bills itself as a fabless chip designer targeting cloud computing and data centre sectors, offering high-performance, low-power ICs, according to its website. (Montage Tech)
Shanghai traders are now asking if Friday’s surge was just a one-time reaction to the Hong Kong deal schedule or if it marks the beginning of a fresh trading range. The pricing link adds rare date-driven catalysts for an A-share stock, making the short-term moves unusually tied to specific deadlines.
However, things can quickly unravel. Should the Hong Kong listing price fall significantly short of what Shanghai investors have factored in, A-shares could slide sharply. And if demand disappoints, the stock might lose steam before it even hits the Hong Kong market.
The key dates are close: the Hong Kong public offer deadline falls on Feb. 4, followed by the price-setting window from Feb. 5 to 6, with trading expected to start in Hong Kong on Feb. 9.
