Chinese chip firm Montage Technology surges over 50% in Hong Kong debut

HONG KONG/SINGAPORE: China’s Montage Technology ⁠jumped more than 50% in its Hong Kong trading debut on Monday after the world’s biggest memory interconnect chip supplier raised HK$7.04 billion ($900 million) in a share sale to mainly fund research.

Montage makes data centre memory interface chips that help artificial intelligence computer ‌networks move data ‌faster between processors and memory.

The shares opened at HK$168 compared to their offer price of HK$106.89, hit a high of HK$171 before trimming gains to ‌trade at around HK$163. The stock was the third most actively traded stock by turnover early on Monday.