Montage Technology's $900 million IPO was part of Hong Kong's strongest start to a year since 2021
Business
Montage Technology, a Shanghai-listed chipmaker, made waves on the Hong Kong Stock Exchange this week—its shares opened 57% higher than the IPO price, raising $900 million.
The company makes chips that connect memory in data centers
Montage designs specialized chips that connect memory in data centers and AI systems—the tech backbone for everything from cloud storage to AI training.
In 2024, they grabbed nearly 37% of the global market for these memory interconnect chips, making them the world leader.
The IPO was insanely popular
The IPO was insanely popular: retail investors oversubscribed by over 700 times and big-name backers pledged $450 million.
The company has reported strong revenue and profit growth.