Montage Technology debuts on the Hong Kong Stock Exchange with an appreciation of 57%

The Chinese ‘chip’ company Montage Technology debuted this Monday, 9th, on the Hong Kong Stock Exchange with a valuation of 57.2%, joining other technology companies in the sector that have seen strong rises in recent weeks.

Montage, which produces ‘chips’ for data centers and artificial intelligence accelerators, sold almost 66 million shares, raising around 7,043 million Hong Kong dollars (763 million euros).

According to the Bloomberg news agency, the initial public offering (OPI) price represented a 44% discount compared to the company’s last listing on the Shanghai stock exchange, where it has been listed since 2019 and whose shares are currently worth more than double (+132%) compared to a year ago.

The technology company previously debuted on the Nasdaq index, in New York, in 2013, but abandoned it months later, after being acquired by a Chinese state-owned company.

Based in Shanghai, Montage is, according to data from consultancy Frost & Sullivan cited in the company’s prospectus, the world’s largest supplier by turnover in the memory interconnection ‘chips’ segment, with a market share of 36.8%.

The company now joins a growing number of Chinese technology companies linked to AI, which have made their debuts on the stock exchange marked by strong rises in recent weeks, with some multiplying their value eightfold during the first day of trading, both in Hong Kong and in mainland China markets.

This trend is not seen as random: analysts point not only to the growing interest of investors in the AI ​​sector, but also the expectation that Beijing will reinforce support for technology, after declaring technological self-sufficiency as a priority in the next five-year plan (2026–2030), in the context of the trade war with the United States, which exposed Chinese dependence on third parties in key areas such as semiconductors.

Investors hope that Chinese technology companies, which continue to lag behind their North American rivals in research, resources and innovation, will be able to close the gap in terms of their models’ capabilities and take advantage of a decisive competitive advantage: offering AI services at significantly lower costs.