GigaDevice Semiconductor's shares skyrocket 54% on Hong Kong debut
GigaDevice, a Chinese chip designer, made a splashy entrance on the Hong Kong stock exchange—raising about $600 million at the top end of its IPO price range.
The demand was wild: the offering was 542 times subscribed.
On day one, shares soared as much as 54%, reaching HK$248.80.
What does GigaDevice actually do?
Based in Beijing, GigaDevice designs chips for everything from cars to consumer gadgets—think memory chips (NOR/SLC NAND Flash), microcontrollers, analog chips, and fingerprint sensors.
The company is no small player either; it ranked second worldwide in NOR Flash market share according to a listing document submitted last year.
Other key details
GigaDevice plans to use its IPO cash for R&D, expanding production, building its brand, and possible acquisitions.
Profits are up too—the company earned 588 million yuan in the first half of 2025, a solid 14% jump from last year.
This listing follows hot competition in the chip world as China ramps up against global giants like Micron and NVIDIA.